Why Align Technology, Insulet, and Intuitive Surgical Stocks Are Soaring Today
Several medical device stocks are soaring today as investors anticipate that the U.S. Congress will pass a stimulus bill to boost the economy during the crisis caused by the coronavirus pandemic. Shares of Align Technology (NASDAQ: ALGN) were up 11% as of 11:38 a.m. EDT on Tuesday. Insulet (NASDAQ: PODD) stock was climbing 8.9% higher. Shares of Intuitive Surgical (NASDAQ: ISRG) were jumping 14.9%.
After political wrangling through the weekend and into early this week, lawmakers appear to be getting close to striking a deal, with Treasury Secretary Steve Mnuchin participating in some of the discussions. Both Democrats and Republicans involved in the negotiations over the stimulus package sounded confident that a bill that could pass both the House and the Senate would be agreed upon soon. The price tag of the bill is expected to be around $2 trillion.
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Source Fool.com
