Stocks

Asensus Surgical (ASXC) surges on upgrade and earnings

Dangerous Game of Chicken

Shares of Asensus Surgical (ASXC) surged today on analyst upgrade and and previously good earnings report.

Asensus Surgical is said to be pioneering a new standard of surgery. The company claims surgeons will have increased control. The company gets compared to Intuitive Surgical which is currently trading around $832 per share, I see why investors are happy about ASXC stock.

Analysts at H.C. Wainwright initiated coverage on ASXC stock today with a “buy” rating and a price target of $4.

Given the impact the pandemic has had on elective surgical procedures, investors seem to be betting on a significant surge in demand in the coming months.

As with any penny stock, the best strategy is to gather the available data and if you still like the company, stay in the trade until there’s a compelling reason to sell your shares.

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