Stocks In The News: SMED, AAL, INMD
3:43 pm Tuesday, July 12th, 2022
Boy, what a day it’s been for investors in Sharps Compliance (NASDAQ:SMED). At the time of writing, SMED stock has skyrocketed nearly 200% higher. Such a move — a tripling of a stock in a given day — is very rare indeed. Now, Sharps’ market capitalization of around $160 million (after today’s increase) provides more room for such moves. Smaller-cap stocks, and lesser-known stocks for that matter, tend to be more volatile. On days with good news, this can work in investors’ favor.
Few other industries have suffered as catastrophic of a collapse as air travel. That makes the recent news for American Airlines (NASDAQ:AAL) stock that much sweeter. For the upcoming second quarter, management expects to post its first pretax profit since the start of the pandemic. Robust demand has bolstered the airline industry, leading to AAL stock gaining nearly 10% so far today. Like AAL, analysts expect many major U.S. airlines to post some of their strongest earnings since Covid-19. One of the main catalysts behind this resurgence is revenge travel, or the pent-up demand of consumers. Better yet, this increase in bookings is helping mitigate mounting costs. That factor is likely playing into the bullishness for AAL stock.
It’s not every day that InMode (NASDAQ:INMD) stock trends in the financial news. However, today’s a special day for the medical device company. As INMD stock shoots higher on heavy trading volume, investors are clearly pleased with the company’s new record revenue expectations for the second quarter of 2022. U.S. traders might not be familiar with Israel-based InMode. At a market capitalization exceeding $2 billion, the company is bigger than you might expect. InMode develops and sells medical devices that harness radio frequency technology. These devices benefit surgeons and patients in plastic surgery, dermatology and more.
