Life Technologies Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of life sciences technology company Life Technologies (NAS: LIFE) bolted higher by as much as 11% earlier in the trading day after it introduced a new human genome sequencing machine.
So what: Aside from bringing back memories of Jean-Luc Piccard with a tricorder, the ramifications of the newly introduced Benchtop Ion Proton Sequencer are far from fictional. Life Technologies is offering up this machine for $149,000 with the promise that the human genome can be sequenced for $1,000 in just one day! Prior to this, similar machines cost $500,000-$750,000, and genome sequencing could take weeks, if not months.
Now what: I don't often get excited about new technology, but the widespread uses for this genome sequencer are incredible. It's tough to tell exactly what sort of impact this will have on Life Technologies' bottom line yet, but I don't see a technology this superior to its predecessors' being welcomed with anything but open arms. Consider this another step in the right direction for Life Technologies.
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At the time this article was published
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