Why Insulet Stock Is Soaring This Week
Shares of Insulet (NASDAQ: PODD) were up 15.3% this week as of the market close on Thursday, according to data from S&P Global Market Intelligence. The big jump came following a report that Dexcom (NASDAQ: DCOM) and Insulet are in discussions about a potential merger.
On Monday, a Bloomberg article cited unnamed sources as saying that the two companies were considering a combination of their complementary diabetes-care businesses. However, neither Insulet nor Dexcom have confirmed that they're in merger discussions.
Investors clearly see the prospects of a merger with Dexcom as positive for Insulet. And Insulet needed some good news. The healthcare stock had fallen by nearly 30% year to date prior to this week.
Source Fool.com
