Amedica Corporation (NASDAQ: AMDA)
Amedica Corporation is off to an incredible start to the trading session today. The stock started the day off well into the green and has had no problem at all with regard to holding onto its gains. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to AMDA ahead.
What We’re Seeing From AMDA
As mentioned above, Amedica Corporation is having an incredibly strong day in the market today. Shortly after the opening bell, the stock started soaring, and, at this point, it’s clear that it’s likely to stay in the green unless something devastating happens. At the moment (10:04), AMDA is trading at $1.02 per share after a gain of $0.17 per share (20.00%) thus far today.
Why The Stock Is Gaining
As usual, when the CNA Finance team saw that the stock was climbing, we did some digging to see what the underlying cause of the movement was. While the company has not released a press release or any other means of releasing fundamental news, we did find something incredibly exciting.
Early this morning, the FDA updated its website to show that the company has received 510k FDA approval. As mentioned above, the company has not yet released a PR with regard to the news, which is surprising, to say the least. Nonetheless, we can say that this is clearly not a rumor, as the news that’s causing the AMDA movement is available on the FDA website.
What We’ll Be Watching For Ahead
Moving forward, we’re expecting to see a press release from AMDA any time now that explains the approval and next steps. Nonetheless, today’s news was overwhelmingly positive and will likely lead to further gains. We’ll keep our eyes peeled and bring you the news surrounding AMDA as it breaks!
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