Nano-X shares heading to $0, Citron claims in new short report - InvestingChannel

Nano-X shares heading to $0, Citron claims in new short report

Andrew Left’s Citron Research claimed in a new short report that shares of Nano-X Imaging are heading to zero. The stock in premarket trading is down 1% to $48.57. “We see right through it as a stock promotion that is actually insulting to anyone who spends 10 minutes to read the prospectus. This stock is heading to $0 as the company’s recent fair value opinion on their technology is $0.14 a share.” Nano-X “has never published any data showing their machine’s images compared to images from a standard CT scanner,” the firm, who takes short positions in the names it writes about, said in a report posted on its website. “There is not one scientific paper or that would back up any of these claims. As a matter of fact, we have not even seen proof of the product and have only seen a mockup drawing of what this machine is supposed to look like,” Citron wrote.