There were a lot of companies that jumped to action last year in the fight against the SARS-CoV-2 virus. Videoconferencing, e-commerce, delivery apps, drug development and diagnostics all prospered. In that latter category, one company proved it has a business model to succeed long after the pandemic ends -- assuming it ever does.
Fulgent Genetics (NASDAQ: FLGT) burst onto the scene when the Food and Drug Administration (FDA) approved its test for detecting COVID-19 in June 2020. The company went on to increase its volume and revenue exponentially.
The stock struggled when cases dropped this past summer, but the company is making moves to become a major player in cancer detection. And the delta variant is putting Fulgent's testing in prime position all over again. For those reasons and the company's proven ability to turn a profit, it's one stock I have no reservations about buying right now.
Source Fool.com