Asensus Surgical (ASXC) Stock Corrects Recent Peak: Time to Buy?
6:11 pm Wednesday, July 07th, 2021
The robotic surgical space has garnered a lot of interest from investors in recent years and if you are looking for stocks in the sector then one of the stocks that could be worth tracking at this point is that of Asensus Surgical (NYSEAMERICAN:ASXC).
The company is currently best known for having come up with the Senhance System, which is meant for helping with surgeries. That being said, one needs to look a bit deeper when considering the virtues of the stock. The Asensus had become a meme stock earlier this year when it was the subject of action from retail investors from Reddit. The stock had ended up with gains of in excess of 900% in the first few months of this year.
It should be noted that the company’s Senhance System is not only meant for providing cutting-edge surgical robotics but also meant for helping with cutting costs. Laparoscopic surgeries are regarded as the ideal surgeries for the deployment of robotics. Moreover, robotic solutions offer far more precision as well.
The Senhance System has been designed in such a way that reusable and standard instruments could be deployed in the surgery. In that way, it helps in reducing costs considerably. While its meme stock status may prove to be a deterrent for some investors it should also be noted that the company was recently added to the Russell 2000 Index. In the end, the sector could have the potential for growth and hence, Asensus could well be a stock worth tracking.
