Is Bionano Genomics (BNGO) a Good Biotech Stock to Buy Now?

Sometimes stocks go on such a good run that new investors often wonder if it is going to be worthwhile to acquire it. The Bionano Genomics (NASDAQ: BNGO) stock has emerged as one such stock considering the fact that it has already rocketed by as high as 340% in 2021 so far.

In light of such huge gains in a relatively short period, it is only natural for investors to wonder whether there is any more upside in the stock or not. While it is true that there are arguments on both sides of the divide, it is important to point out that the short position on the Bionano stock has gone up steadily in recent times. Hence, if there is any positive announcement from the company then there might be a short squeeze and result in a fresh rally.

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However, the company still needs to improve its revenue growth and expand its addressable market if the stock is to perform long term. At this point, investors could do well to sit on the sidelines.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life