Nano-X Imaging (NASDAQ: NNOX), also known as Nanox, is a pre-revenue, pre-approval medical imaging company, and its stock dropped 25.5% in December, according to data provided by S&P Global Market Intelligence. In my opinion, there wasn’t company-specific news during the month to warrant the drop. The stock was probably just taking a step back after surging an incredible 122% in November.
Nanox is a controversial stock. Everybody’s talking about its secretive technology that promises to make medical imaging better, more affordable, and, therefore, more accessible. However, some believe the company is phony, leading to sharp declines in its stock price. To silence its critics, Nanox did the best thing it could have done: a live demonstration of its Nanox.ARC device.