Why Is HeartBeam (BEAT) Stock Up 24% Today?

  • HeartBeam (BEAT) stock is rising on product portfolio expansions.
  • That includes new features, such as smartwatch compatibility.
  • It also covers the company’s upcoming HeartBeam AIMIGo device.
hands holding a red heart shape against blue background symbolizing health BEAT Stock

Source: shutterstock.com/Anastasia Zagoruyko

HeartBeam (NASDAQ:BEAT) stock is seeing gains on Thursday as investors react to news of it expanding its product portfolio pipeline.

That expansion has the company working to develop arrhythmia detection capabilities. That includes its HeartBeam AIMIGo 3L, incorporating the function into more devices and adding support for smartwatches.

According to HeartBeam, it wants to start production of the HeartBeam AIMIGo in 2023. As such, it’s already started securing supplies for the device in an effort to avoid potential supply chain constraints.

Branislav Vajdic, PhD, founder and CEO of HeartBeam, said the following about the news:

“Adding smartwatch connectivity to our platform is a significant development as it extends our portfolio by enabling 24/7 heart monitoring capability. Coupled with our breakthrough AIMIGo solution, we believe the overall HeartBeam system will bring a new and much higher level of diagnostic capability to cardiac patients.”

BEAT Investors Are Reacting Positively to the News

With today’s announcement of an expanded product portfolio, BEAT stock is seeing heavy trading. As of this writing, more than 27 million shares of the stock have changed hands. That’s a massive increase compared to the company’s daily average trading volume of about 3.2 million shares.

BEAT stock is up 24.1% as of Thursday afternoon. Investors will also note the company’s shares are up 53.1% since the start of the year.

Traders looking for more of the latest stock market news will want to stick around!

InvestorPlace is home to all of the hottest stock news worth knowing about on Thursday! A few examples of that include why shares of Rumble (NASDAQ:RUM), Statera Biopharma (NASDAQ:STAB) and Shell (NYSE:SHEL) stock today. You can find out more on these matters at the following links!

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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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