Is Align Technology Stock a Buy?
Since the COVID-19 pandemic began, Align Technology (NASDAQ: ALGN) has fallen on hard times. The vast majority of dental clinics and orthodontics practices have had to shut down as a result of lockdown measures to contain the coronavirus, causing demand for Align's products to plummet.
Indeed, in the span of one month, Align's share price declined by nearly 50%. Will the company be able to demonstrate that its recovery is more than a short-term rebound now that more states are reopening for business? Let's find out.
Align makes aligners (under the Invisalign brand) and dental scanners (iTero), and offers computer-aided design services for the dental and orthodontic industry. Before the pandemic, demand for the company's products was growing steadily. Last year, it had a record $2.4 billion in revenue, a 22.4% increase from 2018.
Source Fool.com
