Why Is Modular Medical Stock Up Today?
Portfolio Pulse from Erica Kollmann
Modular Medical, Inc. (NASDAQ:MODD) shares rose after receiving FDA clearance to market its MODD1 pump in the U.S. The pump, aimed at making diabetes technology more accessible, is expected to be available in early 2025. Despite initial gains, the stock has since retracted some of its increase.
September 05, 2024 | 4:11 pm
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Modular Medical's stock surged after FDA clearance for its MODD1 pump, which aims to make diabetes technology more accessible. The pump is expected to be available in early 2025, but the stock has since given back some gains.
The FDA clearance is a significant regulatory milestone, likely boosting investor confidence and stock price in the short term. However, the stock's initial gains have partially retracted, indicating market volatility or profit-taking.
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IMPORTANCE 80
RELEVANCE 100