This Genetics Stock Could Have Massive Long-Term Potential
Genetics company 23andMe (NASDAQ: ME) hasn't exactly been a strong performer, with shares down by about 73% since it went public via a special purpose acquisition company (SPAC). And it's not hard to see why -- the market not only soured on SPACs, but on unprofitable growth stocks in general.
However, 23andMe could still have a very bright future ahead for patient investors. The company recently reported stronger results than analysts had been expecting and it has a massive pipeline of opportunities in the works. While there's a lot that needs to go right for this to be a successful long-term investment, the recent signs look positive.
23andMe is best known for its consumer genetics testing, but it also offers subscription products and telehealth services. In the most recent quarter, 23andMe reported 18% year-over-year revenue growth in its consumer business, which exceeded analysts' expectations. Plus, the company raised its full-year guidance. In all, the company generated $67 million in revenue, most of which came from the consumer services segment.
Source Fool.com
