The Surprising Reason Nanox Stock Jumped Again Today
Shares of start-up medical-imaging technology company Nano-X Imaging (NASDAQ: NNOX), or simply Nanox, jumped again on Thursday after it was announced that a major healthcare company increased its investment in the company. As of 3:40 p.m. ET, Nanox stock was up a whopping 17% for today's session and is now up more than 200% in May alone.
Johnson & Johnson (NYSE: JNJ) is a behemoth in the healthcare space and, as it turns out, it's an investor in Nanox stock. Last quarter, the company's filings revealed that it had 196,228 shares of Nanox. But in a filing today, investors discovered that Johnson & Johnson now owns 317,704 shares of Nanox.
In other words, Johnson & Johnson increased its Nanox position by 62% during the last quarter. And that big vote of confidence has the market enthusiastic about Nanox today.
Source Fool.com
