Is This Market Correction the Right Time to Buy Fluidigm?
With shrinking revenues, unprofitable operations, and only $45.4 million in cash against trailing-12-month operating expenses of $115.4 million, cell analysis hardware company Fluidigm (NASDAQ: FLDM) might not seem like an obvious candidate for investment now. It took a beating in the recent market correction, even as it released new high-throughput coronavirus diagnostic tests in late August, and the stock is nowhere near its peak this year.
With its innovative portfolio of cutting-edge cell analysis products, Fluidigm's poor stock performance is only a blip that investors shouldn't read too much into, especially because the stock has nearly doubled this year. Despite being weakly received by the market, Fluidigm's new coronavirus diagnostics might be the opportunity the company needs to push through the pandemic's economic doldrums and get some breathing room to work on profitability and shareholder returns in the long term. To understand how this might be the case, we'll need to dive into a few details about Fluidigm's entry into the coronavirus market.
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Source Fool.com
