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Is Lucira Health a Buy?

TheMotleyFool

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Lucira Health, Inc. (NASDAQ: LHDX) has been one of the most disappointing and wildest IPOs in recent memory. On Feb. 5, the coronavirus testmaker went public at $17 and soared to a high watermark of $38 per share. Shortly after that, however, its momentum stalled. The stock is hovering around $7.

Right now, the company has a market capitalization of just $257 million. Not even three months ago, it managed to raise $153 million in proceeds from investors. With that boost in mind and its negligible debt, could this be the ultimate contrarian stock to buy now?

Image source: Getty Images

Source Fool.com

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