FLGT - Is Fulgent Genetics Stock a Buy?
If you invested a modest $1,000 into shares of Fulgent Genetics (NASDAQ: FLGT) back in January, that investment would have turned into $3,750 as of Dec. 8. That is a stunning performance considering the S&P 500 index only returned 14.5% during the same period.
As it turns out, the second or third (depending on geographical location) wave of the coronavirus that's plaguing the world is leading to record demand for COVID-19 tests. Genetic testing specialist Fulgent has seen its revenue and bottom line skyrocket. Now that the stock is up nearly 300%, is it a good idea to buy shares at the all-time high? Let's find out.
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Is Fulgent Genetics Stock a Buy?