INMD - Is InMode a Good Stock to Buy Now?
In 2021, it seemed as if medical technology stocks could do no wrong. Shares of cosmetic sculpting device manufacturer InMode (NASDAQ: INMD) more than doubled as enthusiasm for all things new and medically related reached a fever pitch.
Shares of InMode have tanked 72% since they hit an all-time high last November. High inflation, rising interest rates, and fear of a recession are putting markets under enormous pressure, and it looks as if this stock has been taken down a few pegs too far.
InMode markets minimally invasive cosmetic sculpting devices that employ a proprietary radio-frequency (RF) technology. Cosmetic skin treatment providers the world over are beating a path to InMode's doors, and this may be a larger market than most investors realize.
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Is InMode a Good Stock to Buy Now?