Why Is Nano-X Imaging Stock Soaring?
Shares of Nano-X Imaging (NASDAQ: NNOX) jumped 17.47% on Monday after the U.S. Food and Drug Administration (FDA) gave the company's single-source digital imaging system 510(k) clearance on Friday, a key step in regulatory approval. Nano-X says its technology could be a disruptive game-changer in the industry because it can significantly lower costs.
It's been an up-and-down year for Nano-X. Over the past year, the stock has been as low as $20.26 and as high as $94.81. On Friday, after it closed at $41.44 a share, it briefly jumped beyond $59 on Monday before closing at $48.55.
What's generating all that heat is the possibility of a different type of X-ray technology that the company says will democratize the use of X-rays in areas that can't afford them now.
Source Fool.com
