NNOX - This Controversial Growth Stock Could Be a Brilliant Contrarian Pick
Contrarian investing is fun because when you nail a contrarian pick correctly, you get the joy of saying "I told you so!" Seeing the value in opportunities that other investors discard means capturing outsized profits when things go right.
There just might be such an opportunity in Nano-X Imaging , (NASDAQ: NNOX) a medical-device business that's survived allegations of fraud and a brutal decline of almost 70% in the past year. If you're brave enough to roll the dice on odds that other people consider long, read on.
Nano-X's product in development is the Nanox.ARC, an X-ray imaging device that's significantly less expensive to operate than traditional X-ray machines used in hospitals worldwide thanks to its innovative low-cost X-ray tubes. Rather than selling the device as a unit and then charging customers for maintenance and replacement parts, it hopes to charge a fee for every time its platform is used.
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This Controversial Growth Stock Could Be a Brilliant Contrarian Pick