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Why Nutex Health's Shares Fell 27.8% on Friday

Why Nutex Health's Shares Fell 27.8% on Friday

Shares of Nutex Health (NASDAQ: NUTX), a healthcare services company that owns 21 micro hospitals in eight states and operates primary care provider networks, plummeted 27.76% to $0.65 on Friday. The healthcare stock has been steadily declining since Aug. 18, when it hit $4.18 per share, but the sell-off has accelerated since a lockout period ended Oct. 1 for insiders who had been issued stock worth $3.50 a share as part of the company's merger with Clinigence Holdings.