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Agile Therapeutics (AGRX) Stock Price Surged 38.3% Despite No News

Simon Mugo trader
Updated 27 Jun 2022

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Key points:

  • Agile Therapeutics (AGRX) stock price surged 38.3% despite no news.
  • The company benefitted from the Supreme Court’s decision in Roe v. Wade.
  • Will the rally continue? Read on to find out.

The Agile Therapeutics Inc (NASDAQ: AGRX) stock price surged 38.3% higher despite the lack of news from the company. The last major announcement from the company was in late May, when it released its latest corporate presentation.

However, investor interest in Agile Therapeutics stock has surged recently following the Supreme Court’s decision to vacate Roe v. Wade, which many investors are betting will trigger significant demand for contraceptives.

Given that millennials and young people, in general, make up the largest population group in the United States, investors are betting that this group of people will embrace contraceptives instead of getting pregnant and procuring an abortion, which is likely to become illegal in most states.

Also read: Five Best Pharmaceutical Stocks To Watch In 2022.

While the moral debate around the Supreme Court decision will remain a hot topic for years, investors are betting with their wallets as over 12.6 million AGRX shares had changed hands at writing.

It seems a significant number of investors are selling their shares in the company to many buyers in light of the decision. We live in an age where investors care about issues like sustainability and the moral stand taken by certain firms.

However, in this case, none of the companies that have benefitted from the Wade v. Roe decision has done anything wrong. On the contrary, companies such as Agile Therapeutics have been at the forefront of championing women’s reproductive health by producing products used by millions of women for family planning purposes.

Agile Therapeutics produces the famous TWIRLA patch, which was one of the first contraceptive methods approved by the US government in 1968. Since then, the contraceptive has kept evolving, with the FDA approving the current version in 2020, which is applied weekly.

Therefore, companies such as Agile that seem to have benefitted from the Supreme Court’s ruling have been around for a while and were not doing well before the decision. Will the momentum continue? Honestly, nobody knows; only time will tell.

*This is not investment advice. Always do your due diligence before making investment decisions.

Agile Therapeutics stock price.

Agile Therapeutics stock price 27-06-2022
Source: Tradingview

The Agile Therapeutics stock price rallied 38.26% to trade at $1.59, rising from Friday’s closing price of $1.15.

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading