InMode: Mid-Cap IPO Rally by the NumbersI've been holding InMode, a mid-cap maker of laser hair removal and other laser based cosmetic equipment, and they're hot. Fundamentals are strong and the technicals indicate heavy institutional accumulation. Enough time has passed to have a quarter's worth of data to begin painting indicators on my chart, and volume is hot.
What trend exists by ADX shows a strong uptrend. INMD has tripled since IPO, but that's tame for what a strong enough new company can do. Volume and price have been rising steadily since the beginning October leading me to believe that the stock is going on heavy institutional accumulation. It's too soon to be included in any indexes yet, but it poses a likelihood if it keeps going the rate it has been with technicals and earnings. However, they're already profitable, and that's not common with the IPO tech unicorns or small cap pharmas lately.
