Here's Why Livongo Health Gained as Much as 16.9% Today

Shares of Livongo Health (NASDAQ: LVGO) rose nearly 17% today after the company reported that it was awarded a contract for the Federal Employees Health Benefits Program (FEHBP). The company will be able to supply its Livongo for Diabetes solution to the roughly 5.3 million people in the program.

The announcement nudged the stock to its best day since its initial public offering (IPO) in July. Shares have been mired in a continuous slide since making their debut. Investors might be seeing through the buzzy jargon and thinking that the company's software platform isn't differentiated from the competition. Does the latest contract change that?

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Source Fool.com