A Deeper Look Reveals New Concerns and Adds To Our Conviction
Zynex (NASDAQ: ZYXI) shares are up 150% year to date vs the Health Care Select SPDR ETF (NYSE: XLV) at -2%. We believe ZYXI's outperformance is a function of retail investor complacency combined with sell-side analyst carelessness and leaves the stock extremely vulnerable to a major repricing lower.
In our previous report, we presented a bearish thesis predicated on two main points in context with valuation. First, Zynex sells generic commodities at prices multiples above market levels. Second, we were unable to