- Eargo up 65% as technological innovation meets modern medicine once more
- The New Eargo 6 boasts unrivaled power, effortless and adaptability
- With stock losing 85% of its value over 2021, what's next for the cutting-edge company
For as long as technology has broken barriers to what is and isn’t possible; there have been investors looking for lucrative avenues. Some of the most cutting-edge inventions of the last 10, 20, or even 50 years have created entire markets from thin air. Modern medicine is one of these, thriving on a blend of incessant human innovation and obviously, a sizeable pool of investment.
It’s a company called Eargo (NASDAQ: EAR) that is turning inquisitive heads in Thursday’s early trading. The company has recently released the Eargo 6 – which is backed by ‘revolutionary’ claims that the new smart hearing aid tops its respective market. The new product range boasts the Eargo 6 as the most powerful, effortless, and cutting-edge product to aid the lives of people suffering from hearing loss.
Also Read: The Best Healthcare Stocks To Buy
Looking at Eargo’s financials, it seems that the Eargo 6 might have been a bit of a lifeline for the company, which has lost 85% of its stock value over 2021. Today’s surge amounted to gains of up to 65% before consolidating just under the 50% mark.
Christian Gormsen, Eargo President & CEO expresses his passion for the product:
“Millions of Americans who could benefit from a device have long been boxed out of the category by clunky, unaffordable, and inconvenient solutions. By completely transforming how the product looks, works, and is purchased, we are one step closer to our overarching goal of changing the way the world thinks about hearing loss and eliminating the stigmas surrounding it.”
If Eargo can really uphold their ‘revolutionary’ vision; then as it stands, this could be an incredibly undervalued stock moving further into 2022. Eargo had the highest trading volume with today’s market open, and with price reaching high’s of $75 back in February 2021, today’s entry price of $6.78 seems rather appealing.