#7 - iCAD (NASDAQ:ICAD)
Breast cancer remains the most commonly diagnosed cancer among U.S. women, with one in eight receiving that diagnosis. And conventional screenings only have 63% accuracy. iCAD Inc. (NASDAQ: ICAD) uses artificial intelligence to create a world "where cancer can't hide."
This is a dynamic use case for AI. However, iCAD is a speculative stock because the company's revenues are going down year-over-year even as AI adoption is increasing. And this is a year after the company announced its partnership with Alphabet Inc. (NASDAQ: GOOGL).
ICAD stock is only covered by three analysts. However, the consensus price target gives the stock a $4.83 consensus price target. That's a 236% upside from the stock's price on February 13, 2024.
About iCAD
iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.
Read More - Current Price
- $1.83
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
Speculative stocks are typically purchased by short-term traders who only plan to hold a position for days, weeks, or months. Because they require a higher-than-normal risk tolerance, these stocks are typically popular during bull markets when many investors are looking to take on risk. By contrast, during corrections or bear markets, investors turn away from these stocks as they flee to the relative safety of other assets.
One final note: this doesn't mean investors with an appropriate risk tolerance shouldn't get involved with speculative stocks. It bears repeating that stocks like Amazon.com Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT), and Apple Inc. (NASDAQ: AAPL) were all considered speculative stocks at one time. In 2024, a stock such as Palantir Technologies Inc. (NYSE: PLTR) was considered speculative until the middle of 2023, when it began to generate a profit.
With all that said, speculative stocks are only meant to take up a small portion of an investor's overall portfolio, and you should be sure to perform higher than your usual due diligence so you know when to get out.
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