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Stocks with smaller market values are outperforming by a wide margin so far this year, and strategists and analysts alike say small caps should continue to lead the way as the economic recovery gains steam. The U.S. economy is currently trending toward high-single digit GDP growth in 2021 as COVID-19 vaccine distribution expands and we gradually emerge from the pandemic, says Lule Demmissie, president of Ally Invest. That environment favors small-cap names, which tend to have a more domestic focus than larger multinational firms.
Small caps tend to outperform in the early parts of the economic cycle, so it should come as no surprise that they are clobbering stocks with larger market values these days.
SHELLEY K. MESCH
When Exact Sciences moved to Madison from Boston in 2009, the company had 20 employees and the intention of developing a colon cancer screening test.
Now, millions of people are screened each year using Exact Sciencesâ Cologuard, the company employs more than 5,000 people, and multiple tests are in development for various types and aspects of cancer.
In the last three years, Exact Sciences has broadened its diagnostic abilities by acquiring several companies and purchasing the exclusive use of a testing technology that can detect cancer. The acquired products, both in commercial use and in development, range from screening for cancer, determining the best course of treatment for a cancer patient, and testing blood for recurring cancer.
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