Nanox is a medical device company that has invented a new machine for medical imaging.
NanoxOctober 04, 2020
Update - I first mentioned Nanox in edition 7. The medical imaging company has lived up to it’s billing as a pre-FDA approved, risky investment. In the last few weeks, it has been subject to short reports from both Citron Research and Muddy Waters. They have described Nanox as “a complete farce”, “Theranos 2.0” and “a much bigger piece of garbage than Nikola will ever be” referencing the electronic truck maker. This sent the stock tumbling over a few days, dropping from its high of $65 to lows of $23. Both shorts essentially claim the technology is fake and that Nanox has falsified images and scans to pretend the technology works.
Watch out for - In response to the short reports, the company has announced it will live demo its product at the Radiology Society conference in November/December, sending the stock price up 70% over two days. If this sounds like playground back and forth, it sort of is, but the result is a very volatile stock. As a reminder, the company is exciting because it claims to have dramatically reduced the cost of medical imaging and increase the accessibility of scans to broad parts of the developing world. The live demo may be an opportunity for it to back up its claims whilst FDA approval is still pending.