Xtant Medical Holdings, Inc. (NYSEMKT: XTNT)
Xtant Medical Holdings is having an incredibly strong day in the market today. After starting the day slightly in the green, the stock has continued upward, leading to impressive profits. Below, we’ll talk about what we’re seeing from XTNT, why, and what we’ll be watching for ahead.
What We’re Seeing From XTNT
As mentioned above, Xtant Medical Holdings is having an incredibly strong start to the trading session today. At the opening bell, the stock was already trading well into the green. However, as the session really started, the good movement moved to great movement. At the moment (10:05), XTNT is trading at $0.55 per share after a gain of $0.08 per share or 17.07% thus far today on heavy volume.
Why The Stock Is Gaining
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on XTNT. As soon as we received the alert, the CNA Finance team started digging to see exactly what was causing the movement. It didn’t take long to dig up the story. The gains seem to be the result of CEO news.
Earlhy this morning, Xtant Medical Holdings announced that it appointed Carl O’Connell to the position of Permanent CEO. Investors are overwhelmingly excited as the company’s recent hardships have been blamed on bad moves made by the previous CEO of the company. In a statement, Mr. O’Connell had the following to offer…
“I am excited to lead what I feel has the potential to be a world-class organization and a considerable competitor in the market… Since joining the organization, I have had a chance to assess the talented Xtant Medical team, the quality of our products, the commitment of our customers, the respect for the gift of donation, and the opportunity that lies ahead. I look forward to continuing work with this team, expanding upon our recent successes and continuing to establish the strategic course to take Xtant Medical to the next level. I am appreciative of the confidence bestowed in me by the executive, the board of directors, and our stakeholders.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on XTNT. In particular, we’re interested in watching the continued evolution of the company under O’Connell’s leadership. Nonetheless, we’ll keep a close eye on the story and continue to bring new developments to you as they break!
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