What happened For three happy weeks since its initial public offering, Israeli X-ray machine maker Nano-X Imaging (NASDAQ: NNOX) could do no wrong. The disruptive purveyor of "free" X-ray machines, which planned to make its money by sharing in the fee for service charged by its customers to their customers, saw its share price sink only three times in 14 trading days -- and closed trading on Friday up more than 250% from its IPO price. But nothing lasts forever. Today, Nano-X shares are in free fall, down 27.8% as of 10:50 a.m. EDT, after being savaged in a short report from Citron Research this morning. Image source: Getty Images. So what Titled "A Complete Farce on the Market -- Theranos 2.0," Citron's report pulls no punches in assigning Nano-X stock, still selling for $35 as of this writing, a "$0 target" price. Nano-X is nothing but "a stock promotion," warns the analyst, and the company itself "has never published any data showing their machine's images compared to images from a standard CT scanner." For that matter, the analyst seems to doubt Nano-X even has a product, complaining that to date, it has "only seen a mockup drawing of what this machine is supposed to look like." And as for Nano-X's recent announcements of distribution agreements for its product, Citron derides these as deals with "fake customers." Now what Suffice it to say that Citron's allegations are shaking investor confidence mightily this morning -- not least by taking Nano-X's own F-1 filing and turning it against the company. Quoting from this document, Citron notes that Nano-X's intellectual property was recently "estimated to be $6.1 million" in value "based on an independent valuation report." When you consider that investors currently assign a $1.7 billion valuation to the stock, this suggests Nano-X shares may still have a long way to fall from here. 10 stocks we like better than Nano-X Imaging Ltd.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nano-X Imaging Ltd. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source