The 2020 pandemic hit many companies hard, while other companies took it as a chance to grow, seemingly unaffected by the state of the world around them. NVIDIA (NASDAQ:NVDA) came out as one of those thriving businesses and achieved gains of 122% in 2020. The company’s graphics processing units (GPUs) were present and needed for trends that accelerated exponentially due to the pandemic, boost...
Tom Wallace – February 5, 2020
I always like to start the new year with a fresh stock recommendation. I’ll admit I am a bit late since it’s already the first week of February, but I hadn’t found an interesting stock to write about yet up until now.
The stock that is on my radar at this moment is Co-Diagnostics Inc. (symbol: CODX)
The reason why this tiny company just popped on my screen is because as you might’ve heard, there is some sort of new virus in China and apparently, it’s getting serious.
So serious in fact that the Chinese government forced 57 million people to stay at home in Hubei a few days ago.
I’ve been through the SARS crisis of 2002 and I have seen how quickly these things can unfold.
A few years back, I was still writing for a physical publication and in my weekly column I recommended my readers buy shares of a company trading on the Hong Kong Stock Exchange that makes face masks.
The share price of that stock actually went up 2,000% in the following 6 months because of a huge shortage of these masks in Asia.
Today, things are different, and I don’t think that they will have a mask shortage. Wearing masks on a daily basis is already in the Asian culture and most people have them at home since the SARS problem…
What I do think they will need though is diagnostic tools to screen for the virus.
As far as I can see, Co-Diagnostics Inc. could do very well in that field. Asian companies don’t usually trust local medical supply manufacturers and prefer to import this kind of equipment from America or Europe.
CODX is currently trading at just around $2.50 but that could quickly go up at any moment.
I’d recommend my readers consider buying the stock at under $3 per share and think about holding it for at least a few months to a year because it takes a bit of time for these things to develop.
I may be wrong in my assessment, but if I am right then we could see CODX take us on a wild ride upwards.