Rogers (ROG) stock experienced a significant plummet of 5.23% on Friday, February 21, 2025, during intraday trading session.
The sell-off in Rogers' shares was likely driven by concerns over the company's new gene sequencing device posing a threat to Illumina (ILMN), a leading player in the gene-sequencing equipment market. According to analysts at Bernstein, Roche's new device, unveiled on Thursday, outperforms Illumina's devices in providing detailed insights into genetics, genomics, and cell biology, potentially disrupting Illumina's dominance in the field.
While Bernstein raised questions about the accuracy of Roche's device, they acknowledged that it could be a serious threat to Illumina in some applications. Illumina's stock had already fallen 5.6% on Thursday following the news, and the company's shares have declined 24.8% in the past 12 months.
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