CorMedix, Inc. (NASDAQ: CRMD) is having an incredibly strong start to the trading session this morning, more than recovering from the reverse split related declines that we saw yesterday. While there has been no news released, there’s a good reason for the gains. Today, we’ll talk about:
- Why CRMD is headed up;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
Here’s Why CRMD Is Up
As mentioned above, CorMedix is making it’s way for the top in the market this morning. However, there has been no news released by the company. So, what’s the deal?
It seems as though investors are starting to get excited about the opportunity that was presented surrounding the stock yesterday. Yesterday, the stock was down as the result of a reverse split. While reverse splits tend to be signs of long-term declines, that was not the case here.
Ultimately, investors are excited about Neutrolin, a product being produced by CRMD. The product is a catheter lock solution that is being developed as a way to reduce the risk of catheter-related infections.
The product may prove to be overwhelmingly valuable as clinical data to date shows that it may be the best option on the market if it is approved. So, while the reverse split was upsetting to some, the declines caused by the split sent the stock into undervalued territory, leading to excitment. Today, investors seem to be taking advantage of the discounts caused by the reverse split.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. While the news surrounding CorMedix yesterday led to declines, these declines have created an opportunity and investors are taking advantage of it.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:11), CRMD is trading at $8.64 per share after a gain of $1.02 per share or 13.38% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CRMD. In particular, we’re interested in following the story surrounding the company’s continued work to bring Neutrolin to market as the product may prove to be a blockbuster. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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