Why 23andMe Stock Dropped Today

·2 min read
Why 23andMe Stock Dropped Today

Shares of 23andMe Holding (NASDAQ: ME) stock slipped in Friday morning trading after the genetic data miner announced that it will spend $400 million to acquire on-demand online medical care and pharmacy services platform Lemonaid Health (not to be confused with Lemonade (NYSE: LMND), the insurance provider). As of 11 a.m. EDT, 23andMe shares are down 4.2%. 23andMe noted that bringing Lemonaid Health's "innovative telemedicine and prescription drug delivery services" onboard could be "an important step in transforming the traditional primary care experience and making personalized healthcare a reality."

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