Here's Why Nanox Stock Hit an All-Time Low Today

In early trading on Wednesday, shares of medical device start-up Nano-X Imaging (NASDAQ: NNOX) briefly went down to $18.30, which was an all-time low for the stock. The company just reported financial results for the third quarter of 2021, but investors were likely less concerned about the numbers and more concerned about an investigation that the Securities and Exchange Commission (SEC) just launched. As of 11:50 a.m. EST, Nanox stock had recovered somewhat from its all-time low but was still down 10%.

Nanox is still a pre-revenue company, but it reached some important milestones during the third quarter nonetheless. It completed its acquisition of Zebra Medical Vision and renamed it Nanox AI. And it completed its acquisitions of USARAD Holdings and the assets of MDWEB. These will, in theory, provide a range of ways to profit from the medical images its devices will capture once they're being produced, sold, and used.

Image source: Getty Images.

Source Fool.com