If you are currently hunting for a big mover in the market then it might be time to take a closer look at the NanoVibronix Inc (NASDAQ:NAOV) stock. It has managed to emerge as one of the biggest gainers over the past week or so and has gone up by as much as 35% this morning.
The latest rally has taken the gains made by the NanoVibronix stock over the past week to as much as 200%. The company is involved in the medical device industry and best known for producing PainShield and UroShield Surface Acoustic Wave (SAW) Portable Ultrasonic Therapeutic Devices. The stock is on the move because recently the company announced that it successfully completed the first order that had been placed for its new age pain management device PainShield Plus.
It was a major development for the company and the reaction in the markets to that update was perfectly understandable. In this regard, there is another thing that needs to be factored in by investors. NanoVibronix also revealed that the revenues generated from the first sale of PainShield Plus units are going to be recognised in the third quarter of 2021.
In addition to that, the product is certainly an upgrade on the previous PainShield device. It covers twice the surface area as compared to the earlier version of the product. On the other hand, NanoVibronix can also realize higher margins when selling this product and that is possibly another reason behind the optimism among investors.