Why Co-Diagnostics Stock Is Moving Today

Co-Diagnostics, Inc. CODX shares are trading volatile on Thursday.

Hindenburg Research announced a short position in the stock. Also, the company's coronavirus test was recently approved in Mexico.

We are short $CODX due to its CFO’s checkered history, involvement with companies halted by the SEC, its astronomical valuation, a growing list of higher quality COVID tests & its propensity to issue frequent fluffy press releases.

— Hindenburg Research (@HindenburgRes) May 14, 2020

Co-Diagnostics is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules.

The company's coronavirus test was recently approved in Mexico.

Co-Diagnostics shares were trading up 2.7% at $24.05 at the time of publication Thursday. The stock has a 52-week high of $29.72 and a 52-week low of 69 cents.

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