Why COVID-19 News Caused ResMed Shares to Tumble 10.3% Today
After manufacturing companies disclosed that discussions are underway to repurpose idled manufacturing capacity to produce ventilators, ResMed Inc. (NYSE: RMD) shares lost 10.3% of their value on Thursday.
ResMed is a healthcare company best known for manufacturing continuous positive airway pressure (CPAP) machines used to treat sleep apneas. However, it also produces non-invasive ventilators used to boost oxygen intake by patients with certain diseases and conditions, such as chronic obstructive pulmonary disease (COPD).
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