Up 1,000% in 2020, Is Co-Diagnostics Stock Still a Buy?
Co-Diagnostics (NASDAQ: CODX) might be the strongest growth stock in the market right now, with third-quarter revenue up about 50,000%. This is a bit of a misleading statistic, as the company had only $41,000 in revenue at this time last year. Nonetheless, to drive sales from such a tiny base to $21 million is really impressive. And while companies in hypergrowth mode are rarely profitable, Co-Diagnostics is an exception. Indeed, the company reports net margins of 63% so far in 2020.
Image source: Getty Images.
So here's a company with amazing 50,000% revenue growth, and profit margins superior to Visa. It's not surprising that early investors have enjoyed a beautiful 11-bagger so far in 2020. In fact, we might ask why the stock hasn't gone a lot higher.
Source Fool.com
