What's Going On With Nano-Cap Medical Device-Focused Sharps Technology On Friday?
Portfolio Pulse from Vandana Singh
Shares of Sharps Technology Inc (NASDAQ:STSS) are trading higher on Friday with a significant volume of 15.17 million. The company received two purchase orders for approximately 1 million SecureGard ultra-low waste smart safety syringes. The first shipment is scheduled for the third week of July, with deliveries continuing throughout 2024. The customer is a Swiss-based provider of injectable therapies. This collaboration could leverage Sharps' technology and expertise to support the customer's growing product offerings. The market for innovative injection solutions is growing rapidly, and Sharps is seeing increasing interest due to issues with Chinese-supplied syringes. Sharps is also expanding its manufacturing capacity in the U.S. STSS shares are up 8.76% at $0.2520.
July 05, 2024 | 3:02 pm
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Sharps Technology Inc (NASDAQ:STSS) shares are trading higher due to new purchase orders for its SecureGard syringes. The company is seeing increased demand for its products amid market growth and issues with Chinese-supplied syringes. Sharps is also expanding its manufacturing capacity in the U.S.
The new purchase orders and the growing market for injection solutions are positive indicators for Sharps Technology. The company's expansion in the U.S. and the issues with Chinese-supplied syringes further boost its market position. These factors are likely to drive the stock price up in the short term.
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