Senseonics (NYSEAMERICAN:SENS) is In Breakout: How to Trade Now?
8:40 pm Monday, August 30th, 2021
Social media has quickly become an important factor when it comes to performance of many stocks and hence, it might be useful for investors to perhaps take a look at some of the stocks which might have garnered a significant following so far.
One such stock is Senseonics (NYSEAMERICAN:SENS), which has emerged as one of the most hyped stocks on social media in recent times. However, at the same time, it should also be remembered that these stocks can be quite volatile and the rallies might not actually last. That being said, Senseonics has an actual business and has made a name for having come up with its continuous glucose monitoring (CGM) product named Eversense. The product is meant for helping diabetes patients in their everyday lives.
More importantly, the product that the company has come up with also has a massive market and as per a study from Grand View Research, the CGM industry is worth as much as $5.28 billion in 2021. However, the more important bit from the study is that by the year 2028, the value of the CGM space could go up to as much as $10.36 billion.
Hence, if Senseonics can actually corner even a tiny portion of the market, then the company could be looking at sizeable revenues. On the other hand, the device from Senseonics offers certain key advantages when compared to his peers and that could be another competitive edge that the company could enjoy. Hence, this is a stock that could well be added to the watch lists at this point.
