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Why Nano-X Stock Just Crashed 28%

TheMotleyFool

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For three happy weeks since its initial public offering, Israeli X-ray machine maker Nano-X Imaging (NASDAQ: NNOX) could do no wrong. The disruptive purveyor of "free" X-ray machines, which planned to make its money by sharing in the fee for service charged by its customers to their customers, saw its share price sink only three times in 14 trading days -- and closed trading on Friday up more than 250% from its IPO price.

But nothing lasts forever. Today, Nano-X shares are in free fall, down 27.8% as of 10:50 a.m. EDT, after being savaged in a short report from Citron Research this morning.

Image source: Getty Images.

Source Fool.com

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