Conformis Inc (NASDAQ:CFMS) Stock Continues to Move Up: What to do Now?
Those who are on the lookout for stocks which might have recorded strong gains over the past week could consider taking a look at the Conformis Inc (NASDAQ:CFMS) stock. Yesterday, the stock got the attention of many investors and clocked gains of 3%.
However, at the same time, it should not be forgotten that the Conformis stock has in fact recorded gains of 13% over the course of the past week. While there has been no news in recent day, it should not be forgotten that earlier on this month on July 7 the company had resolved a patent litigation with Stryker Corporation and reached a settlement.
The patent litigation in question involved Tornier Inc and Wright Medical Technology Inc. Investors need to remember that back in November 2020, Wright Medical had actually been acquired by Stryker Corporation.
Chief Executive Officer and President of Conformis Inc Mark Augusti spoke about the matter as well. He stated that everyone at Conformis is pleased to have finally solved the issue with regards to patent litigation with Wright Medical Technology Inc. It was a major development for Conformis and might have had an effect on the rally that has been witness in the stock over the past week.
Market Reaction:
On Monday, CFMS stock jumped 3.54% at $1.17 with more than 4.11 million shares, compared to its average volume of 2.64 million shares. The stock has moved within a range of $1.0750 – 1.2101 after opening the trade at $1.61. Over the past 52-week, the stock has been trading within a range of $0.6020 – 1.4900.
