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NEW YORK ─ Chembio Diagnostics' shares closed on Monday up 60 percent on the company's announcement last week that it is launching a rapid test for the detection and differentiation of SARS-CoV-2 antigens, influenza A, and influenza B in decentralized and traditional testing settings.  

The firm's stock traded as high as $6.25 per share on Monday on the Nasdaq before finishing the day at $5.64 per share.

In early morning trading on Tuesday, Chembio's stock was down was down 13 percent to $4.91.

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