Why ShockWave Medical Stock Jumped Today
Shares of ShockWave Medical (NASDAQ: SWAV) were jumping 9.1% higher as of 3:47 p.m. EST after rising as much as 11.4% earlier in the day. The company didn't announce any news. Today's move appears to have possibly been fueled by institutional investors buying the stock.
It's not all that unusual for a small healthcare stock to experience relatively big price swings on no news at all. Often when this happens, it's the result of major institutional investors such as mutual funds, hedge funds, or pension funds scooping up large quantities of the stock.
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Source Fool.com
