Insulet Corporation (PODD) Stock Surges After FDA Clearance
Shares of Insulet Corporation jumped 7.68% to $194.57 after the FDA cleared its Omnipod 5 Automated Insulin Delivery System for type 2 diabetes.
This marks the first such system approved for both type 1 and type 2 diabetes. Clinical trials showed significant improvements in glycemic control, with an overall 0.8% reduction in HbA1c levels. The tubeless device communicates with continuous glucose monitors to regulate blood sugar levels.
Despite the day’s gains, Insulet’s stock remains down 10.33% year-to-date, with a market capitalization of $13.64 billion.
Super Micro Computer Inc. (SMCI) Short Position Announced by Hindenburg Research
Super Micro Computer’s stock fell 1.45% to $554.34 following an announcement by Hindenburg Research of a short position in the company.
The well-known short-selling firm alleged accounting irregularities, undisclosed related party transactions, and potential sanctions violations following a three-month investigation. Hindenburg’s report also highlighted customer issues and product quality concerns. Despite the day’s decline, SMCI’s stock has seen remarkable growth, up 95.03% year-to-date and 2,769.57% over the past five years. The company’s market cap stands at $32.46 billion.
Paycom Software Inc. (PAYC) Insider Selling Triggers Stock Dip
Paycom Software saw its stock dip 0.60% to $163.63 amid reports of insider selling. CEO Chad R. Richison sold 1,950 shares at an average price of $162.27 on August 23, totaling $316,426.50.
Following the transaction, Richison retains direct ownership of 2,961,308 shares valued at approximately $480.5 million. Paycom’s stock has struggled in 2024, down 20.33% year-to-date and 42.37% over the past year. The company’s market capitalization currently sits at $9.40 billion, with a price-to-earnings ratio of 19.88.More By This Author:Uber Slapped With $324M EU Fine As Stock Dips Amid Data Transfer ScandalWill Nvidia Deliver Again In Its Upcoming Quarterly Results? Stocks To Watch Today: Tesla, GM, And Nvidia
