The healthcare sector seems to be performing reasonably well today. There are a number of Canadian healthcare stocks increasing today, and while that gives the market reason to celebrate, most of my praise is going towards Israeli healthcare company InspireMD (NYSEAMERICAN:NSPR). Why? Because, there seems to be somewhat of as InspireMD comeback; unlike a lot of the other healthcare stocks increasing today, InspireMD appears to be in the midst of a turnaround, after having dropped almost 10% last week.
What Happened?
On Friday, February 2, InspireMD was down 6.74% at one point during the trading day. This might not seem like a considerable drop, but it was quite disappointing for investors after having witnessed a nearly 20% stock increase earlier in the week. To top it off, there wasn’t a direct cause for InspireMDs drop on Friday. In fact, the Israel-based company has only been making positive announcements for the past month or so.
In January alone, InspireMD has had its CGuard Embolic Prevention System featured in two separate live case transmissions. This is huge news. It could help to explain why the stock increased almost 20% on January 30 after the company announced the first live case transmission. Unfortunately, as mentioned, the stock increase didn’t last very long.
Read More About the CGuard Embolic Prevention System >>
However, things seem to be turning around today. Despite no announcements since Wednesday, January 31, InspireMD is currently trading at $0.20, putting the stock up $0.01, or 8.21%. The stock can be seen moving up a few cents every couple of seconds. Therefore, I wouldn’t be surprised if InspireMD ends todays trading up more than 10%. For perspective, it is worth mentioning that InspireMD previously closed at $0.18.
The Takeaway
Right now, it’s unclear what is behind the InspireMD comeback today. However, I think it’s very likely that investors aren’t complaining. I mean, an increase is an increase, right? The only thing I can suggest is that the market keeps a close eye on InspireMD going forward. Why? Because we’re going to want to know if today’s comeback will continue, or if it’s going to die out by the end of the week.
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