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Why is Maravai Lifesciences Holdings Inc (MRVI) Stock down?

We've noticed a 17.16% decline in Maravai Lifesciences Holdings Inc (MRVI) stock during the 2024-05-29 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
16 May, 2023:

MRVI shares fall after rejecting potential takeover by private equity. The company reportedly attracted takeover interest from Thomas H. Lee Partners with a non-binding offer, though the offer price could not be learned. Reuters reported that Maravai rejected the offer, and there is no certainty a new bid will follow or any deal will be reached.

https://www.benzinga.com/general/biotech/23/05/32424951/maravai-lifesciences-shares-fall-after-rejecting-potential-takeover-by-private-equity?

08 May, 2023:

Maravai LifeSciences Holdings has not performed as well as the market. Additionally, their quarterly report revealed an earnings surprise of -25%.

https://www.zacks.com/stock/news/2091795/maravai-lifesciences-holdings-inc-mrvi-lags-q1-earnings-and-revenue-estimates

$152.17
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$85.02
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$27.05
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$84.95
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$466.42
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$260.51
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