On March 14, Zhongchao Inc. (ZCMD) stock skyrocketed in the premarket to add an immense 60.00%. Thus, at the time of writing, the stock was trading at a price of $1.68 per share in the premarket. The volume of the shares exchanged was 754.2K at the time. There is no recent official announcement or SEC filing from the company.
In the previous trading session on Friday, ZCMD fluctuated between $1.05 and $1.75 to report its new 52-week low of $1.05. The stock closed the session with a huge loss of 38.24% at a price of $1.05 per share.
The healthcare information, education, and training services provider, Zhongchao Inc. is based in China.
ZCMD’s Trend Reversal
As the stock markets continued to suffer from the frenzy caused by the Russia-Ukraine conflict, ZCMD shared a similar fate. With healthcare stocks taking a harsh hit, ZCMD had also been going down since March 08. Continuing the downfall, the stock plunged to its new 52-week low of $1.05 on Friday. Consequently, the stock rebounded in the premarket session today. Since there is no recent news from the company, it seems the new low gave way to the recovery today. It is most likely that investors saw the new low price of the stock as a good opportunity to stock up. Hence, the stock rebounded and surged up in the premarket today due to external factors.
It is unclear as to how long the current bullish momentum will continue as the market is highly volatile but for now, the stock is up for some good gains.
On October 29, the company announced updates regarding its self-developed patient management system. ZCMD’s patient management system improves the Duration of Therapy by 40.4% for patients with liver cancer. Therefore, contributing to maximum drugs efficiency, successful treatment, and extended patient survival terms.
As per The Global Cancer Observatory, China had 400,000 new liver cancer cases in 2020. The main treatment of liver cancer currently includes surgical resection, interventional therapy, radiotherapy, and transplant. All these treatments have limitations specifically adverse reactions during the systemic therapies usually decrease life quality and negatively effects treatment. So, ZCMD closely monitors and deals with adverse reactions through its patient management system. Follow-up, psychological counseling, drugs usage reminder, and patient supervision all are done through the system.
On September 17, the company announced the launch of its multidisciplinary treatment (MDT) clinical thinking training platform for hematology. This platform provides a channel for learning multidisciplinary thinking skills online. Hence, improving diagnosis and treatment along with efficiency.