Why ResMed Stock Exploded Higher This Week

·2 min read
Why ResMed Stock Exploded Higher This Week

Through Thursday's close, shares of the medical equipment company ResMed (NYSE: RMD) were up by a healthy 10% so far this week. ResMed's stock is marching higher this week in response to Koninklijke Philips' (NYSE: PHG) decision to voluntarily recall approximately 3.5 million ventilation devices for treating sleep apnea. Philips is recalling the devices over the use of a polyester-based polyurethane (PE-PUR) sound abatement foam that could be toxic if inhaled or ingested.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting