Why Shares of Senseonics Soared 30.6% in August
Senseonics Holdings (NYSEMKT: SENS), which makes continuous glucose monitoring systems for diabetes care, saw its shares rise 30.6% in August, according to data from S&P Global Market Intelligence. The stock started at $3.10 on Aug. 2, the first trading day of the month, and closed the month at $4.01. The stock has been volatile, climbing to as high as $5.56 in mid-February and slumping to as low as $0.35 last fall.
There wasn't a lot of news to explain the stock's surge last month. The company did report second-quarter earnings on Aug. 9 and there was some good news in the report. Senseonics reported revenue of $3.29 million, compared to only $260,000, year over year. However, it also reported a net loss of $180.3 million, compared to only $7.52 million in the same period in 2020.
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Source Fool.com
