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If You Own Fonar Corporation (FONR) Stock, Should You Sell It Now?

Alex Smith
·2 min read

Blue Tower Asset Management’s recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 10.4% for the quarter, outperforming the S&P 500 Index which returned 8.9% in the same quarter. You should check out Blue Tower Asset Management’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the said letter, Blue Tower Asset Management highlighted a few stocks and Fonar Corp (NASDAQ:FONR) is one of them. Fonar Corp (NASDAQ:FONR) is a diagnostic imaging centers company. Fonar Corp (NASDAQ:FONR) stock lost 2.5% and on November 10th it had a closing price of $19.19. Here is what Blue Tower Asset Management said:

"Fonar has been a successful investment for us, and we closed out our position at $24.99 per share, a significant appreciation from our average purchase price. In the five weeks since our liquidation, Fonar stock has fallen almost 20%. If it falls to a sufficiently attractive price, we may repurchase it."

beerkoff/Shutterstock.com

In Q1 2020, the number of bullish hedge fund positions on Fonar Corp (NASDAQ:FONR) stock remained unchanged from the previous quarter (see the chart here). Our calculations showed that Fonar Corp (NASDAQ:FONR) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.