BNGO - Is Bionano Genomics Stock a Buy Now?
2023-03-07 09:45:00 ET
Getting in on the ground level with a stock that's on track to grow massively is one of the better things you can do for your portfolio's health. No doubt, early-stage businesses are riskier and you could lose 100% of your money, but there's also the possibility of huge upside if the company succeeds.
In that vein, Bionano Genomics (NASDAQ: BNGO) might be a stock you should consider now. Though its business model is unproven and its stock is down more than 36% in the last 12 months, there's reason to believe it might have a bright future. Here's why.
The biggest reason to invest in Bionano Genomics today is that it's bringing in revenue like crazy, and its growth story is just getting started. The company develops and sells a piece of highly specialized genomic mapping hardware dubbed the Saphyr that biomedical researchers use to investigate chromosomal abnormalities called structural variations. Those abnormalities are implicated in many severe maladies, including multiple myeloma, Down's syndrome, and some lung cancers.
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Is Bionano Genomics Stock a Buy Now?