GeneDx Holdings (WGS) saw its stock price plummet by 5% during Wednesday's intraday trading session, following the company's announcement of completing its acquisition of Fabric Genomics. The significant drop suggests that investors may have concerns about the implications of this strategic move.

Earlier in the day, GeneDx released a statement confirming the finalization of its acquisition of Fabric Genomics, a company known for its AI-based genomic analysis solutions. While acquisitions are often viewed as growth opportunities, the market's immediate reaction to this news appears to be negative.

The sharp decline in GeneDx's stock price could be attributed to several factors. Investors might be worried about the financial burden of the acquisition and its impact on GeneDx's balance sheet. There could also be concerns about potential integration challenges or uncertainty regarding the long-term benefits and synergies expected from this merger. Additionally, if the acquisition involved issuing new shares, existing shareholders might be reacting to potential dilution of their ownership stakes. As more details about the terms of the deal emerge, it may provide further insight into the market's reaction to this corporate development.