Xtant Medical (NYSEAMERICAN:XTNT) stock is surging higher on Friday even with there being a lack of news from the company today.
The jump in prices for XTNT stock comes at the same time that investors are taking an additional interest in its shares. As of this writing, more than 101 million shares of the stock have changed hands. That’s a hefty increase compared to its daily average trading volume of about 253,000 shares.
So why exactly is XTNT stock up today? There’s a lot of chatter about the stock over on social media from day traders. It’s possible that these traders are boosting shares of the stock up higher to reap the profits when they sell.
Keeping that in mind, here’s what potential investors in XTNT stock need to know about the company.
- Xtant Medical a global medical technology company.
- It has a focus on designing, developing, and commercializing orthobiologics and spinal implant systems.
- These allow for spinal fusion in “complex spine, deformity and degenerative procedures.”
- Xtant Medical was founded in 2006 and operates out of its headquarters in Belgrade, Mont.
- It’s worth noting that the increasing interest in XTNT stock comes shortly after two major news announcements.
- Earlier this week, the company revealed results from its most recent earnings report.
- Then on Thursday, it announced the closing of a $20 million private placement.
XTNT stock was up 162.7% as of Friday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.