NEW YORK (TheStreet) -- Novadaq Technologies (NVDQ - Get Report) hit an all-time high of $24.09 on Friday after Canaccord increased its target price to $26 from $23. The firm called Novadaq "the most compelling growth story in med-tech."
But just before noon, the stock turned downward and hit a low of $20.25 for the day. More than 1.2 million shares had changed hands as of 2:15 p.m., nearly quadruple the average volume of 327,448.
Tech stocks as a whole suffered on Friday, as the Dow and S&P 500 rallied in the morning to hit new intraday highs before investors quickly turned on tech stocks and Facebook (FB), Netflix (NFLX) and Amazon (AMZN), among others, dropped.
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