Electromedical Technologies Inc (OTCMKTS:EMED) is regarded as one of the better known innovators in the bioelectronic devices space for having created a device meant for treating acute and chronic pains. Yesterday, the Electromedical stock was in focus among many investors and ended the day with gains of as much as 10%.
Although the gains made by the stock are expected to bring the stock into focus among investors today it should be noted that there was no news about the company that might have brought about that rally. Back on August 18, the company announced its financial results for the second fiscal quarter that ended on June 30, 2021.
The company’s performance was quite strong as its revenues jumped to as much as $202,954 and reflected a jump of around 48% from the $136,755 in revenues that it had generated in the prior year period. On the other hand, Electromedical reported that its administrative, general and selling expenses actually declined by as much as 28% year on year to $677,781. In the prior year period, the company had recorded expenses of as much as $936,669 for the same overheads. It remains to be seen if the stock continues to rally today or not.