Why DexCom Stock Rocketed Higher in April
Medical device company DexCom (NASDAQ: DXCM) saw its shares gain a stately 31.5% during the month of April, according to data from S&P Global Market Intelligence. The company's shares burst higher last month for two inter-related reasons.
First up, DexCom's stock lost as much as 30% of its value in March in response to the COVID-19 sell-off. Bargain hunters clearly viewed this dip as a once-in-a-lifetime buying opportunity. Underscoring this point, the biotech's shares have now gained an astounding 112% since hitting a two-year low in late March. That's a nearly unheard of type of move for a large-cap stock.
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Source Fool.com
