Why Conformis Stock Is Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Conformis, Inc. (NASDAQ:CFMS) is set to be acquired by medical device firm restor3d for $2.27 per share in cash, a 96% premium to its closing price on June 22, 2023. The deal is expected to close by the end of Q3 2023.
June 23, 2023 | 11:39 am
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Conformis stock is likely to rise in the short term due to the acquisition by restor3d at a 96% premium to its closing price on June 22, 2023.
The acquisition of Conformis by restor3d at a 96% premium to its closing price on June 22, 2023, is a significant positive development for the company. This premium indicates a strong valuation for Conformis and is likely to result in an increase in its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100