Problems at Fulgent Genetics (FLGT)

Problems at Fulgent Genetics (FLGT)

Fulgent Genetics (NASDAQ: FLGT — $1.62 billion) has rallied around 400% since March as the company has successfully pivoted to creating coronavirus test kits. The market is giving the company an excessive ~$1.3 billion valuation boost on what will be around a ~$550 million one-time benefit from the pandemic. In addition, a series of related party transa…