2024-03-26 05:38:27 ET
Summary
- Pulmonx Corporation's shares have performed poorly over the past year, returning -16%.
- The company's CEO recently announced his retirement, raising questions about potential changes in corporate strategy.
- In my opinion, the market for endobronchial valves is much smaller than anticipated, and LUNG should sell itself to a larger conglomerate.
About a year ago, I reduced my rating on Pulmonx Corporation ( LUNG ) to a sell, after the stock doubled from my earlier buy recommendation. In my opinion, the company's fundamentals did not justify the run-up in the share price, so I advised investors to take profits and move to the sidelines.
Although LUNG's shares continued to rally a little after my sell rating, ultimately, the company's shares have done nothing for the past year, returning -16% (Figure 1)....
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For further details see:
Pulmonx: Revisiting Thesis Following Management Change