NNOX - Why Nanox Stock Plunged Today
Shares of medical-imaging company Nano-X Imaging (NASDAQ: NNOX) , commonly referred to as Nanox, plunged on Tuesday following the release of financial results for the second quarter of 2021. The company's net loss widened significantly compared to the previous year, but it's doubtful that this is the reason the stock sold off. Rather, the company also announced a shuffling with the management team which tends to make investors jumpy. Moreover, Nanox announced two acquisitions that will be funded with stock, perhaps contributing to today's pullback.
As of 12:15 p.m. EDT, Nanox stock was down 10% but it had been down almost 17% earlier in the session.
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Why Nanox Stock Plunged Today