Helius Medical (NASDAQ:HSDT) stock is rocketing higher on Wednesday despite a lack of news from the medical device holding company.
Instead, the price of HSDT stock is rising as heavy trading takes place today. This has more than 28 million shares of the stock on the move as of this writing. That’s a massive increase compared to the company’s daily average trading volume of about 1.1 million shares.
What’s Behind the Rise of HSDT Stock?
It looks like HSDT shares are climbing higher today thanks to speculators pushing them higher. Social media is ablaze with traders talking about the potential of the stock. That includes pointing out its low float, extreme trading volume, and current price compared to all-time-highs.
Some traders might be wondering why HSDT stock is a target of speculators today. One bit of news worth noting is its PoNS device. This is a medical device for the “temporary treatment of dynamic gait and balance deficits due to symptoms from stroke.” The device was granted Breakthrough Designation from the U.S. Food and Drug Administration (FDA) last year.
Following up on that, Helius Medical announced an online PoNS Therapy training curriculum last month. This expands the number of physical therapists that are able to receive training for the medical device.
HSDT stock is up 126.6% as of Wednesday morning.
There’s more recent stock market news traders will want to know about below!
We’ve got all of that news ready to go in one place! It covers everything that’s happening with shares of Alnylam Pharmaceuticals (NASDAQ:ALNY), Ping Identity (NYSE:PING), and Advanced Micro Devices (NASDAQ:AMD) stock today. You can read all about that at the following links!
More Wednesday Stock Market News
- Why Is Alnylam (ALNY) Stock Up 50% Today?
- Ping Identity (PING) Stock Rockets 60% on Thoma Bravo Deal
- Advanced Micro Devices (AMD) Stock Falls 5% on Disappointing Guidance
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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