Shares of Guardant Health (GH 5.56%) were sinking 7.9% as of 3:05 p.m. EST on Thursday. The genomics company didn't report any news that would cause its stock to slide. Instead, Guardant Health's shares were pulled down by the broader market sell-off.
Growth stocks are usually more volatile than the major market indexes. We're seeing that to be the case with Guardant Health today. However, it's best for investors to ignore short-term volatility and focus on the company's long-term business prospects.
Those prospects appear to remain solid for Guardant Health. The company expects 2021 revenue will jump between 26% and 29% year over year. That's less than the 34% growth posted in 2020. However, Guardant Health tends to provide conservative guidance that it ultimately beats.
The overall market for liquid biopsy is huge -- and largely untapped. Guardant Health definitely has an opportunity to grow significantly over the next decade and beyond.
The company's Guardant360 CDx product received a CE mark (which indicates it complies with European Union standards) earlier this week. This is a major milestone for Guardant Health in marketing the product in Europe. Guardant Health also recently launched GuardantREVEAL, a liquid biopsy for the detection of residual and recurrent colorectal cancer. Both of these products should be important to the company's growth in 2021.