Why Is G Medical Innovations’ Stock Falling?

G Medical Innovations’ stock fell 11% to $5.45 in pre-market trading today. It turned out that it has undergone an adjustment after yesterday’s rapid rise to $6.31, when it broke the annual record. In total, over the past week, the price soared 100%, closing on January 19 at $6.11 with a trading volume of almost $36 million. G Medical Innovations designs and markets various medical devices such as Prizma, Extended Holter Patch System, Wireless Vital Signs Monitoring System. Its devices measure and display important vital signs in real time, and have additional unusual features. Furthermore, one of the products is designed to record electrocardiogram data continuously for a fortnight.

G Medical Innovations

The 52-week high was caused by news of an amendment to the latest press release to buy shares. We remind you that a week ago, after the announcement of the acquisition of company’s shares, Dr. Yacov Geva, President and CEO of G Medical Innovations, and Michael McDade, CEO of McDade Products, bought an unknown amount of GMVD. A changed press release states that now they want to buy the company’s shares on the open market during the trading window.