Why Fluidigm Stock Is Soaring Again Today

Shares of Fluidigm (NASDAQ: FLDM) were soaring 14.6% higher as of 10:55 a.m. EDT on Tuesday. The jump marked the second consecutive day of double-digit gains for the medical device stock. Fluidigm's momentum appears to be related to the expanding opportunities for use of the company's systems in COVID-19 testing.

Fluidigm announced its first-quarter results on Thursday, May 7, 2020. The immediate reaction to the company's Q1 update wasn't great. Fluidigm's revenue fell 8% year over year, and the company reported a wider adjusted net loss than it had in the prior-year period.

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Source Fool.com