© Reuters. Is BIMI International Medical a Buy Under $1?
Currently trading at less than $1, the shares of China-based BIMI International Medical’s (BIMI) have dipped 72.2% in price over the past year. So, given the company’s weak financials and poor profitability, will its stock be able to regain its momentum? Read more to find out.Headquartered in China, BIMI International Medical Inc. (BIMI) offers medical equipment, pharmaceuticals, and other healthcare products to consumers and wholesalers. The company provides products under the Lijiantang Pharmacy brand name. In addition, it provides IT research and development services.
BIMI’s stock has tanked 53.5% in price over the past year and 24.3% over the past three months to close yesterday’s trading session at $0.78. Furthermore, it is currently trading 72.2% below its 52-week high of $2.81, which it hit on February 10, 2021.
Although the healthcare industry is thriving globally, with increased demand for healthcare products and services, BIMI has failed to generate profits in the trailing 12 months. Though the company has established a strong foothold in the healthcare market through strategic alliances and a broad range of product and service offerings, its disappointing financials and weak profitability could lead the stock to a downtrend in the near term.
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