Can you use beta to determine a good buy-in zone for otherwise previously volatile companies?
For example, HIMS beta is at 1.05, the market is 1.0 so HIMS would be considered safer beta considering Pepsi is .54 and NVDA 1.67
When HIMS was $23 it had much higher beta, it's price has catered to $14 now. Normally, there's no causation with beta is my understanding so it's not useful individually. However, in this case scenario could a high beta stock coming back down to market level be considered a good buy signal?
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