Asensus Surgical Inc (NYSEAMERICAN:ASXC) stock jumped 20% from this week’s low as penny investors buy in. The tech innovation company in the surgical space focuses on bringing new surgery standards for less variability, consistent outcomes, and increased control.
Its offerings aim at integrating automated intelligence and machine learning to enhance surgical procedures. Most importantly, Asensus focuses on laparoscopic surgical outcomes.
The pandemic has a massive impact on elective procedures, but with vaccinations and the opening up of economies, investors are optimistic demand could be on the way. Asensus’s surge came as its larger rival Intuitive Surgical reported topping earnings in its recent report. Revenue was $1.29 billion, and EPS was $3.52, topping consensus estimates of $2.63. This massive earnings beat is an optimistic sign for the sector.
Considering Intuitive’s status in the industry, it is not surprising to see the increase in ASXC stock. Despite the increase, the stock is still 70% down from the highs of the meme stock frenzy early this year. In the coming months, ASXC stock will be worth watching.
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Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life