It was a volatile day on the market for Waterdrop, Inc. (NYSE: WDH) on Friday as its share price surged early and fell later in the day. The Beijing-based insurance platform was up 11.1% shortly after the opening bell but then dropped over the course of the day and was down as low as 0.9% for the day in the afternoon. A late rally brought it back into positive territory, and it ended the day up 2.6% to $1.20 per share.

Overall, it was the third straight positive day for the markets as all three major indexes moved higher with the Dow Jones Industrial Average up 377 points (1.2%), the Nasdaq up 250 points (2.1%), and the S&P 500 up 61 points (1.5%).

Waterdrop has two primary businesses: its online insurance marketplace and its medical crowdfunding business. The insurance marketplace is an online platform where users can shop for different types of health and life insurance available from selected insurance carriers. Its medical crowdfunding portal is a place where people without insurance can use its crowdfunding platform to raise money to pay for medical costs.

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Source Fool.com