TXG - 10x Genomics: Sticking To The Plan To Avoid The Falling The Knife

2024-06-21 08:00:00 ET

Summary

• 10x Genomics has experienced a significant decline in share price, currently trading around $20 per share, with no bullish indicators for a potential reversal.
• Recent performance shows growth in total revenue to $141M, but with a decrease in consumables revenue and a rise in operating costs, leading to an operating loss.
• Factors contributing to the decline in TXG include economic influences, fading growth prospects, supply chain issues, legal battles with NanoString Technologies, and a lack of retail investor interest.

10x Genomics Overview

If you have been following my 10x Genomics ( TXG ) coverage , you would know that I have been patiently waiting for the conditions to line up to finally establish a position in one of the industry leaders in single-cell and spatial genomics. Sadly, TXG has been suffocated by selling pressure and the share price has experienced a significant decline from its June 2021 high of nearly $209 per share. Now, TXG is trading around $20 per share and is devoid of bullish indicators hinting at a potential reversal. Although I am committed to establishing a position in TXG, I will stick to my parameters to ensure I do not catch a falling knife. I believe we are looking at a multifaceted state of affairs that has fueled this downturn, so I am still going to rely on technical analysis to determine my involvement in TXG and dictate my entry point....

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