Microbot Medical Shares Surge 250% After Self-Cleaning Shunt Study Results Released
BY Dow Jones & Company, Inc.
— 2:08 PM ET 01/14/2019
Shares of Microbot Medical (
MBOT) are up about 250% in Monday afternoon trading, after the company announced a laboratory study validated the operational effectiveness of their self-cleaning shunt.
At 2:04 P.M. EDT, shares of Microbot Medical (
MBOT) were up 250% to $8.40.
Volume is very heavy, with more than 28.4 million shares trading, well above the 65-day average volume of 145,613. Microbot Medical (MBOT) has 2.92 million shares outstanding and a public float of 1.41 million.
Harel Gadot, the company's chief executive, president and chairman, said, "We believe the performance of the SCS during this and previous studies gives us greater confidence to explore additional medical applications for the device in conditions where occlusion occurs, such as in the Traumatic Brain Injury space."
Is it the mother of all short squeezes? Is it insiders running up the price? Is it a couple big traders using it to play tennis with one another?
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
