NNOX - Why Nano-X Imaging Stock Popped 15% This Morning
After less than a month on the public markets, the Israeli start-up X-ray machine maker Nano-X Imaging (NASDAQ: NNOX) has more than doubled off its $18 offer price. Shares shot up more than 15% in early trading Tuesday and were still up about 7.7% at 1:50 p.m. EDT.
Nano-X was rising in a market where the rest of the Nasdaq is down more than 2% despite there being no particular news of note. Nor has Nano-X said anything market-moving itself today.
I suspect investors are just still enthused by the rapid rise of this medical technology stock, and its disruptive business model. It is promising to build X-ray machines for $10,000 and then give them away, making money instead by charging for use of the machines.