Is Invitae Stock a Buy Now?
(NYSE: NVTA) has grown revenue over time, but the genetic testing specialist has failed to turn that into profit. Instead, the company burned through more and more cash, prompting it to launch a business realignment plan in 2022. The goal was (and is) to speed up the path to positive cash flow, and Invitae has made some progress.
Despite efforts, Invitae shares have failed to take off and, instead, have lost more than 80% since the announcement of the new strategy. In fact, they've fallen to such a low level -- less than $1 -- that the New York Stock Exchange (NYSE) issued a warning notice of noncompliance with minimum share price listing requirements. That means the Stock could be delisted if Invitae's shares don't rise to $1 within a certain period.
So, Invitae's situation doesn't look particularly bright, but advancements toward its profitability goal could make the company a promising recovery story. Is Invitae a stock to buy now? Let's find out.
Source Fool.com
