What the hell has happened to this company Van!--Abbot management implodes.
- As the COVID-19 cases dropped in the spring, Abbott (ABT-0.2%) had taken steps to shred millions of its rapid COVID-19 tests at a manufacturing site in Maine, The New York Times reported.
- The company also canceled supplier contracts and closed the only other plant in Illinois tasked with making the test, leading to the dismissal of 2,000 workers.
- However, as people return to schools and offices while COVID-19 is making a comeback in the U.S., the demand for the popular rapid antigen tests called BinaxNOW is rising once again.
- But this time, the company is scrambling to rehire hundreds of workers, and struggling to ramp up production.
- According toThe Times, CVS(NYSE:CVS), Rite Aid(NYSE:RAD), and Walgreens(NASDAQ:WBA)are all selling out of the at-home test, and the deliveries from Amazon(NASDAQ:AMZN)for the test can get delayed up to three weeks.
- Meanwhile, Abbott(NYSE:ABT)and the rival Quidel(NASDAQ:QDEL)traded lower when Bloomberg cited issues with the companies’ COVID-19 tests.
What name do you not see on that list? OraSure also selling at home tests-- their sales must be WAY UP!<----
OSUR- On the way to $14!<-------
OraSure Technologies, Inc.
$10.50