BFLY On The Way To $20BFLY Current Price $11.75 Price Target $20
Innovative tech has been killed since February but the core difference between most innovative tech and BFLY is BFLY is a profitable company only trading at 5xPE. This is very cheap when you consider the S&P is trading at 20 PE (which means BFLY is trading four times cheaper than the market). BFLY has created a handheld ultrasound that is significantly cheaper than a normal ultrasound machine. This product is going to be used by developing countries in the future.
BFLY trade ideas
BFLY HITTING SUPPORT - $20 PRICE TARGETBFLY - Current Price $ 10.23 Price Target (short-term) $12.50 Long Term $20
This company created an Ultra sound that is hand held and can give you the same images and accuracy as the ones in use in the USA. The best part about the innovation is the cost reduction. These cost under 3k while most ultra sounds cost a million +. This innovative tech will be used to bring this technology to poorer developing countries. Just reported $0.57 EPS last quarter on an annual basis that would be a PE of 4.5x which is cheap given the growth prospects for this company. Looks great on the chart as we are seeing a double bottom off that $9.80 level. Long shares and calls here.
BFLY Butterfly Network Inc"Ultrasound designed for the future."
"Experience a groundbreaking ultrasound solution and the world’s only single-probe, whole-body handheld device, powered by Ultrasound-on-Chip™ technology. Butterfly transforms complex processes into one connected POCUS system to help you offer better, more efficient care."-Butterfly Network Inc
That is info from their site
Bill gates loaded up on this stock last year
BFLY update.I had previously put this on a watchlist for going long. Now, I am actually thinking it's going to fall further.
I thought at this point the wedge breakout would have occurred, and since buyers haven't moved in, I think it may be headed down further.
I have seen similar setups where the wedge keeps getting tighter and tighter on the top, then finally no buyers are to be found and price plummets.
I'm not saying this is going to happen.. but if market makers are trying to hide their intention to buy they are doing it strictly and collectively.
I think I will steer clear of trading this, but I do enjoy a good case study, especially when it's not being done on me, so let's see what's in the cards.
$BFLY - begin collectingAfter a long conversation with someone much smarter than myself on this stock, I decided to begin collecting the stock for LT hold.
Buying dips where I can and just growing my holdings
The changes this product brings to EMM and remote/underserved locations is life changing for those markets.
Here's their website: www.butterflynetwork.com