Why Asensus Surgical Inc (ASXC) Stock Continues to Rebound This Week?

In recent times, companies involved with innovations in the surgical space have garnered considerable attention and one such company is Asensus Surgical Inc (NYSEAMERICAN:ASXC).

Over the course of the past week, the Asensus stock has been one of the hottest stocks in the market and during that period, it rebounded by as much as 60% from its recent lows. The rally in the stock continued on Monday as the ASXC stock managed to climb by 26%.

The stock climbed last week after the company’s peer Intuitive Surgical managed to beat earnings expectations and consequently, the Intuitive stock managed to record a strong rally. Although Intuitive is a much larger peer, the strong performance had a knock-on effect on the Asensus stock as well.

The momentum gained by the stock last week has continued up until this week. It now remains to be seen if the stock can continue to add to its gains today.

Jack Dawkins

Finance and Tech Contributor

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