Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
“AVITA MEDICAL INC. AVH -I have been monitoring this stock for some time and like the product offering and see this as a great space to be in for what looks like a market leading innovation with huge potential. But apart from Tuesday’s surge due to promising buy base level performance the stock seems to have trouble gaining momentum? Can I please ask you for your thoughts?” - Regards Steve K
Morning Steve,
Acute thermal burns business Avita Therapeutics Inc (AVH) has endured an awful few years after being a star performer in 2019, the decline saw the company exit the ASX200 in late December. The main issue we feel with AVH was the stock got way ahead of itself in terms of valuation leading to poor risk / reward but this has now turned around, we like the stock with a stop below $5.50 i.e. well under 10% risk.
Last week the company reported an almost 60% increase in revenue in its 2nd quarter results, finally some deliverance on the promise and high valuation.
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