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Home > News > Nanogen Shares Whipsawed by Good, Bad News

January 29th, 2004

Nanogen Shares Whipsawed by Good, Bad News

With nanotechnology the buzzword on Wall Street these days, investors sent Nanogen Inc.'s stock on a roller coaster ride today, pushing it up to its highest value in more than three years, then down, then back up again.
A combination of positive company news and negative market news caused the stock to be whipsawed, as the stock shot up to a 52-week high of $14.95 a share mid-morning. But after the Federal Reserve said an interest rate hike may be just over the horizon, stocks plummeted across the board. Nanogen was no exception, plunging to $12.02 near the end of regular trading.


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