NNOX - Is Nano-X Imaging Stock a Buy in the New Bull Market?
2024-03-26 01:00:00 ET
Amid the market's excitement surrounding artificial intelligence (AI), medical device companies -- especially those using AI to generate revenue like Nano-X Imaging (NASDAQ: NNOX) -- have been getting a boost. Shares of the young Israeli company are up by 43% over the past 12 months, and it hasn't even started to execute on its long-term plans with gusto yet.
So does that make Nano-X a buy right now, when there are many different stocks that are climbing? And how solid will its prospects be when the market inevitably reverses at some point? Let's dive into these questions.
Bull markets can often cause investors to overlook the blemishes on young companies. Inevitably, many of these enterprises prove unprofitable or overly ambitious and ultimately leave shareholders with losses.
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Is Nano-X Imaging Stock a Buy in the New Bull Market?