Why Neuronetics Blasted 39% Higher Today
Neuronetics (NASDAQ: STIM), a company that focuses on what it describes as "products that improve the quality of life for patients who suffer from psychiatric disorders," shot 39% higher on Tuesday. Investors were likely impressed by the company's potential as indicated in its first-quarter results.
Neuronetics earned $12.3 million in revenue for the quarter, 7% higher on a year-over-year basis. As is its habit of late, the healthcare company posted a net loss. However, this narrowed to just under $7.9 million ($0.31 per share) from the Q1 2020 shortfall of $12.6 million.
Image source: Getty Images.
Source Fool.com