We’re skeptical that Co-Diagnostics (CODX) new coronavirus test works, as news came out that the CDC’s test may be flawed.
There is nowhere for CODX to test the coronavirus COVID-19 strain except China or a government lab in the US.
There is no committed institutional ownership of CODX and a major holder recently liquidated its entire position.
CODX’ enterprise value to sales ratio is an eye-watering 608, making it one of the most overvalued medtech companies that we have ever seen.
CODX traded at below $1 before the coronavirus hype happened. We predict it will sell-off towards that level as coronvirus news fades.
See the full article on Seeking Alpha here.