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Is 23andMe Holding Co. (ME) a Stock to Watch After Losing 0.00% This Week?

Tuesday, September 26, 2023 10:29 AM | InvestorsObserver Analysts

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Is 23andMe Holding Co. (ME) a Stock to Watch After Losing 0.00% This Week?

Overall market sentiment has been high on 23andMe Holding Co. (ME) stock lately. ME receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
23andMe Holding Co. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ME!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With ME Stock Today?

23andMe Holding Co. (ME) stock is trading at $1.02 as of 10:29 AM on Tuesday, Sep 26, a loss of -$0.06, or -5.68% from the previous closing price of $1.08. The stock has traded between $1.00 and $1.05 so far today. Volume today is low. So far 316,710 shares have traded compared to average volume of 3,121,864 shares.

More About 23andMe Holding Co.

23andMe is a consumer-facing healthcare technology company, primarily involved in the sale of direct-to-consumer personal genome services, or PGS, through DNA collection kits shipped via mail. The company provides users access to reports summarizing estimated genetic ancestry breakdown, phenotypic trait reports, and various health predisposition and disease carrier reports. More than 80% of 23andMe customers voluntarily elect to share their de-identified genetic data with the company, which is used to develop future reports. In 2018, GlaxoSmithKline made an equity investment in the company, entering a five-year collaborative agreement with 23andMe to develop drug candidates. Click Here to get the full Stock Report for 23andMe Holding Co. stock.

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