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Tech investing is an inherently risky business. One of the biggest pitfalls retail investors should avoid is buying into the story that many tech companies spin. One of the reasons SPACs failed so miserably across the board is because they were largely based on promises of future growth that never transpired. A proper IPO vetting process would have made sure these stories never made it to market.
Today we’re going to talk about a SPAC with a rather remarkable story that’s somewhat difficult to explain – GeneDx (WGS) – a company with a genomic interpretation platform for diagnosing genetic diseases. By all rights, we should be writing the company’s obituary – another SPAC stock that had over promised and underperformed. Instead, it has engineered a remarkable turnaround in growing revenues by double- and triple-digits while cutting losses in a short time. The company is almost profitable, given certain financial accounting caveats. In turn, shares of GeneDX have soared more than +245% in just the last year. During one 10-month period, they were up more than +3,600%.
What is going on?
A Short History of GeneDx
Founded a quarter-century ago by two scientists from the National Institutes of Health, GeneDx originally provided cli
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