Why Shares of Nanox Climbed 10.6% in June

Nano-X Imaging (NASDAQ: NNOX), an X-ray technology company that has the potential to be a disruptor in the industry, saw its shares rise 10.6% in June, according to data from S&P Global Intelligence. The stock hit its high for the month at $12.30 on June 24. It has a 52-week low of $8.23 and a 52-week high of $32.42.

The company, more commonly referred to as Nanox, saw its stock rally in June, but that was more a response to the lowered price of the stock, with bargain hunters taking a flyer on the company.

Nanox's technology works by using nanoparticles, and the company says it can power its imaging systems without the huge amount of heat that conventional X-ray machines require. That means that Nanox can manufacture its machines far more cheaply, and they can be operated with less expense as well.

Source Fool.com