Butterfly Network Stock: On Sale Now At a 40% Discount

“Wait for the dust to settle. If shares start to approach the $10 mark, then you’ll be paying what the smart money paid.” That’s what we said about Butterfly Network (BFLY) back in November 2020 when they decided to go public using a special purpose acquisition company (SPAC). Seems like the smart money overpaid as BFLY stock now trades at around $6 a share – a discount of -40%. If we liked Butterfly Network stock at $10 a share – and we did – we should like it even more at today’s prices. Here’s where we left things when we last wrote about Butterfly.

Given we already have a decent amount of exposure to the medical device theme, we’re not overly keen to invest here, particularly given their choice to IPO using a SPAC.

Credit: Nanalyze

We’re talking about our investments in Medtronic (MDT), Stryker (SYK), and to a lesser extent, Johnson & Johnson (JNJ). While none of these co