When it comes to innovation, few sectors can compare to healthcare.
We are constantly finding new ways to keep our bodies and our lives healthy and long. Whether it be through new drugs, treatments or technology.
However, it is the latter (technology) that is really catching our eye recently.
My co-worker and fellow editor Lachlan recently covered this wonderful world of medtech. You can read — and watch — all about it, right here.
I definitely recommend checking it out if you haven’t already.
Not just because it is fascinating. But because it could be your ticket to pocketing a small fortune.
Shareholders of Hydrix Ltd [ASX:HYD] can tell you all about that. Because the company’s 37.74%% share price gain today is just the latest win in a recent revival of this long-forgotten stock.
A magnificent turnaround
See, up until this time last month, Hydrix was in a rough spot.
While the company was working hard behind the scenes on a new medtech venture, their share price was floundering.
Since late March the company has traded sideways around the 10-cent mark. A far cry from the highs the company has seen in the past.
However, that all changed on 17 August.
Hydrix announced to the market that it had successfully overseen the implant of four of its new medtech devices. A product that they call an ‘AngelMed Guardian’, that acts as a heart attack warning system.
You can see why this would be desirable. Especially with an estimated half a million people suffering from heart attack-related events annually.
Plus, the Guardian is the only device of its kind that is FDA approved.
Naturally, this news sent the share price soaring. With the stock rising from nine to 56 cents in just two days of trading. A 522% gain in the span of less than 48 hours…
Not only did this showcase the potential of Hydrix’s product, but also the market appeal. By successfully using real patients, this company proved how incredible medtech can be.
Now, since then, things have (as you’d expect) cooled down a little.
The stock has been in decline for the most of the last month. That is, until today.
As of time of writing, Hydrix is up 35.85%. And the catalyst for this move isn’t exactly newsworthy.
The company simply sent out a reminder that their EGM (extraordinary general meeting) will take place tomorrow. An event that will be conducted virtually via Zoom.
On top of that, they also put out a short investor update on their website. Information that any follower of the stock will already be well aware of.
So, it seems unusual for this spike in the share price.
Or does it?
The future, and beyond
I obviously can’t say for certain why trade of Hydrix shares are picking up. But I suspect the reason is because investors are hoping for some good news from tomorrow’s meeting.
Shareholders were allowed to write in any and all of their questions prior to the event. With Hydrix’s committed to answering as many of them as they can.
No doubt, queries about the AngelMed Guardian will be a hot topic. Whether or not management will be able to fulfil all of those queries is another matter.
But, today, that doesn’t really matter.
What matters, for both shareholders and non-shareholders is the market reaction.
Because no matter what you think of medtech, Hydrix’s performance is indicative. It shows you very clearly what kind of potential you can expect from the sector. With incredible gains up for grabs if you can nab the right stocks.
Keep in mind, that doesn’t mean every medtech company is bound to be a winner. That just isn’t feasible.
But, when the right tech comes along at the right time, things can get very hot very fast.
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Regards,
Ryan Clarkson-Ledward,
For Money Morning
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