Abaxis dropped like a stone following a
disappointing earnings report in July.
IMO the company is oversold, and now
appears to be close to testing resistance
mark of $42.48.
If Abaxis can breakout above the 50 day?
It is bullish. Abaxis is a growth stock
with many positive things in the mix.
I expect good news announcements in
the human diagnostic sector. Abbott is
getting traction with Piccolo, and adding
one big customer like Walgreens, CVS,
or Walmart could be a game changer.
ABAX has proven to be a long term hold.
Buying the dips has been very profitable.
Rainbow, In a previous post you predicted the
announcement of a huge opportunity for Abaxis
coming in the next cc. You implied a deal would
be with a CRO? Can you elaborate?
To answer your question.......
What I know about Abbott is time is on ABAX
side. The Abbott sale reps are becoming more
familiar with Piccolo, and their larger sales force
and worldwide distribution network should make a
Abbotts relationship with Abaxis began in 2008
when they dropped Heska, and gave exclusivity of
the IStat to ABAX. The deal with Abbott getting
distribution rights to the Piccolo is reciprocity and
cements the relationship between Abaxis and Abbott.
What better partner could Abaxis have?
IMO Abaxis is a potential acquistion candidate.