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Stock Alert: Quidel Tumbles 34%

Shares of Quidel Corp (QDEL) are losing more than 34 percent or $76.60 in Thursday's morning trade at $146.34.

Quidel is a developer of diagnostic testing solutions and already markets COVID-19 antigen tests. In May, the FDA issued the authorization to market Quidel's Sofia 2 SARS Antigen FIA, a rapid point-of-care test to be used with the Sofia 2 Fluorescent Immunoassay Analyzer for the rapid detection of SARS-CoV-2.

While there is no stock-specific news for Quidel today, the company's stock might be hurt by news that Abbott Laboratories (ABT) has received an Emergency Use Authorization from the U.S. Food and Drug Administration for a COVID-19 portable antigen test that will deliver results within 15 minutes. The test, BinaxNOW COVID-19 Ag Card, will be priced at $5.

Quidel has traded in a range of $55.25 to $306.72 in the past 52 weeks.

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