InMode Setting Up Well
InMode ($INMD) is a medical equipment company that helps doctors provide clients with treatments for their skin, face, and body through non-invasive cosmetic procedures. This is an industry I believe offers major potential as the need to present your best look always seems to be in fashion.
InMode has been on my watchlist for quite some time, and I took a position earlier this year only to be stopped out a few weeks later. I always make a note to keep a stock I formerly owned on my radar in case it sets up again. INMD looks to be doing just that. There are a few things I really like about this company. First, since its' IPO in the fall of 2019, InMode has produced some incredibly strong fundamentals. With four quarters of accelerating earnings and sales growth, INMD is providing equipment that doctors want to own and use with their patients. In addition, management owns over 35% of its' shares, indicating their strong belief in the company's future. Moreover, fund ownership has been increasing steadily since June 2020, demonstrating that Wall Street believes in InMode's potential as well.
INMD is closing in on a new high, and I'll be sure to watch it closely in the coming weeks to see if can offer a low-risk, high-reward entry point.
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