Why Exact Sciences (EXAS) Is Crashing?

We recently published a list of 10 Companies Reflect Market Decline. In this article, we are going to take a look at where Exact Sciences Corporation (NASDAQ:EXAS) stands against other companies that reflect market decline.

The stock market was lackluster on Thursday, with Wall Street’s main indices ending the day with marginal declines.

The Dow Jones Industrial Average dipped by 0.16 percent, the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.

Ten companies mirrored the decline on Wall Street over a series of catalysts including uncertain government policies and disappointing earnings results.

Let’s take a closer look at the worst performers and explore the factors behind their declines.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A research team in a laboratory discussing the results of a lab screening test for biomarkers.

Exact Sciences Corporation (NASDAQ:EXAS)

Shares of Exact Sciences Corporation (NASDAQ:EXAS) dropped 5.75 percent on Thursday to finish at $50.44 as investors repositioned their portfolios ahead of the release of its full-year 2024 performance next month.

While net income projections have not been indicated, preliminary results released over the weekend said that Exact Sciences expects a double-digit increase for total revenues and screening revenues in the fourth quarter and full year of 2024.

Investors, however, are in a wait-and-see mode, closely watching whether the company has achieved profitability or managed to reduce its net loss for the full year.

In 2023, it can be learned that Exact Sciences (NASDAQ:EXAS) reported a $49.8-million net loss, representing $0.27 per share.

Exact Sciences (NASDAQ:EXAS) is a leading provider of tests for cancer prevention, early detection and screening, and therapy guidance.

Overall, EXAS ranks 5th on our list of companies that reflect market decline. While we acknowledge the potential of EXAS as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EXAS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.