Why STAAR Surgical Company Stock Is Soaring Today
Shares of STAAR Surgical Company (NASDAQ: STAA) are rising sharply on Tuesday, up by 10.8% as of 12:42 p.m. EST, after jumping by as much as 13.8% earlier in the day. However, there doesn't seem to be any company-specific catalysts for these gains. The implantable lenses manufacturer did not report any news that sent its stock price soaring, and the jump isn't attributable to bullish commentary from Wall Street analysts either. The most likely explanation for STAAR Surgical's good fortune today is that the broader market, particularly the tech-heavy Nasdaq Composite, seems to be rebounding after losing altitude in the past week (or so).
Lawmakers in the U.S. are getting closer to passing the next stimulus bill, which, among other things, will put much-needed cash in the hands of Americans and help spur economic activity. As a result of these developments, all three major U.S. market indexes are up today (as of this writing), and STAAR Surgical is simply riding that wave. But investors need not worry about daily fluctuations in the prices of securities. It is best to focus on a company's financial results and overall prospects.
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