EnteroMedics Inc (NASDAQ: ETRM)
EnteroMedics is having an interesting day in the market today. After starting the day off well in the green, the stock took a dive at the opening bell, bringing it into the red. However, that didn't last long. Minutes ago, the stock started spiking yet again, adding to the massive gains that we've seen recently. Below, we'll talk about what we're seeing from the stock, why, and what we'll be watching for with regard to ETRM ahead.
What We're Seeing From ETRM
As mentioned above, EnteroMedics is in the midst of a wild ride in the market today. When the opening bell rang, the stock was trading well into the green. However, shortly after the opening bell, we saw a slide to the red. And then we saw big gains in the stock just minutes ago as yet another spike began. Currently (10:27), ETRM is trading at $19.41 per share after a gain of $1.71 per share (9.66%) thus far today.
Why The Stock Is Gaining
As usual, our partners at Trade Ideas were the first to inform us of the gains on ETRM. However, this isn't the first time we've gotten this alert. The truth is that they've been lighting us up about the stock regularly over the past few sessions, and for good reason. The stock has been soaring in the market. The reason for this is simple.
Late last week, investors got great news from Enteromedics. The company's flagship therapy, vBloc, had been successfully implanted at two more facilities. With the expansion of vBloc, it seems as though things are finally coming together for the company, and investors are excited. As a result, we're seeing gains in the market in response.
What We'll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ETRM. In particular, we'll be watching for news with regard to further expansion, as it is clear that this is a key goal for the company. We're also interested in learning more about sales volume at the current vBloc therapy locations. We'll keep a close eye on the news and bring it to you as it breaks!
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