Why Nanox Stock Slumped Today
On Monday, many investors drew an X next to the name of Nano-X Imaging (NASDAQ: NNOX), also known as Nanox. The next-generation medical imaging specialist experienced a sell-off following its latest earnings release that morning, and by the end of the day, its price had fallen by almost 5%. That didn't compare well to the S 500's (SNPINDEX: ^GSPC) 0.6% increase.
Before market open, Nanox unveiled its fourth-quarter results, which showed that the company booked $3 million in revenue, which was an improvement over the $2.4 million it collected in the same period of 2023. On the bottom line, however, the specialty healthcare company's net loss deepened. It came in at $14.1 million ($0.23 per share), against the year-ago deficit of $10.2 million.
Few analysts track Nanox stock. Regardless, according to data compiled by The Wall Street Journal, collectively they were anticipating a slightly narrower net loss of $0.22 per share.
Source Fool.com
