What Happened With Edwards Lifesciences Stock?
Portfolio Pulse from Ryan Gustafson
Edwards Lifesciences Corporation (NYSE:EW) stock rose over 8% on Wednesday without any major company-specific news. The trading volume was significantly higher than average, with 9.36 million shares compared to the usual 4.18 million. The stock had previously rallied from late October to mid-December, then trended lower until the end of January. Recently, the stock has been pushing higher, surpassing the December high. The surge comes ahead of the company's Q4 financial results, expected on Feb. 6, with an estimated EPS of 64 cents and revenue of $1.49 billion.
January 31, 2024 | 9:12 pm
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Edwards Lifesciences' stock experienced an 8% increase on high trading volume despite no direct news, indicating heightened investor interest or speculative trading ahead of its Q4 earnings report.
The stock's significant rise on increased volume suggests that investors may be speculating positively ahead of the upcoming earnings report. The lack of company-specific news means the movement is likely driven by expectations and market sentiment, which can be volatile. The upcoming earnings report is critical and could justify or correct the stock's recent performance.
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