Progenity (NASDAQ: PROG), a biotech company and a meme stock favorite, saw its shares decline more than 11% on Wednesday. Overall, Progenity stock is down more than 47% this year. The markets don't like uncertainty, and that's one reason Progenity has trended downward.
Shares of Progenity (NASDAQ: PROG) were up more than 34% on Tuesday. At the time of its initial public offering in 2020, the biotech company went for $13 a share, and the stock has been highly volatile because it is a retail investor favorite. It is the second time in less than a month that Progenity has taken off on a short-squeeze-fueled frenzy.
Progenity, Inc. ( NASDAQ:PROG ) shareholders will doubtless be very grateful to see the share price up 107% in the last...