Shares of Abiomed Inc. (NSDQ:ABMD, which had been riding high for most of 2011 took a nose dive on Wall Street today, despite the company posting robust top line growth during its first quarter.
ABMD shares were down some 24 percent in late day trading from yesterday’s closing price of $15.24. While stocks have been down across the board in a day of heavy losses on Wall Street, the dropoff for ABMD was much steeper than its peers in the med-tech space.