Dear readers, it was recently revealed that there was some exposure of stored cord blood at Singapore’s private cord blood bank, Cordlife to suboptimal temperatures. This incident has raised the ire of many customers. The frustration experienced and experienced by Cordlife customers is understandable: if the stored cord life becomes damaged, it defeats the very purpose of the customers, mainly many parents, of having the cordlife stored in the first place.
As a later development, earlier today, it was announced that following the aforementioned incident, the foundation for the Accreditation of Cellular Therapy (FACT) has indefinitely suspended the cellular therapy accreditation of CordLife.
The stock price of CordLife stock has slumped last week following the incident. Today, the stock price declined a further 6.06% to close at $0.31.
One insight that I had looking at the stock is that despite the aforementioned incident, Cordlife’s current stock price is close to its price last year: the stock price was $0.32 on 30 Dec 22. This goes to show how much of a rally the stock has prior to the episode. In fact, Cordlife stock price reached a high of $0.57, or 78% increase in its stock price year-to-date this year.
But there may be more volatilities of the stock to come as investors continue to weigh in on the ongoing developments in relation to the incident.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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