Why Ekso Bionics Dropped as Much as 15.8% Wednesday
Shares of exoskeleton suit leader Ekso Bionics (NASDAQ: EKSO) fell nearly 16% Wednesday without any new sales reports. The company did issue a new press release, but it detailed the results of recently completed studies demonstrating that its exoskeleton products were safe and provided significant physical benefits to individuals with spinal cord injuries.
Therefore, today's drop can most likely be chalked up to a simple rebalancing after a wild week. That's because Ekso Bionics was showcased in various media reports for its role providing Ford Motor Company (NYSE:F) with EksoVest suits in a major pilot study. The stock popped from $1 per share on Nov. 9 to nearly $5 per share on the positive media attention. As of 3:28 p.m. EDT, the stock had settled to a 13.4% loss.
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Source: Fool.com
