Here’s Why Inari Medical Inc. (NARI) Led This Week’s Rally

We recently published an article titled These 10 Firms Led This Week’s Rally. In this article, we are going to take a look at where Inari Medical Inc. (NASDAQ:NARI) stands against the other stocks.

Ten companies finished stronger this week, outpacing the broader market thanks to a series of catalysts that lifted investor sentiment.

On Friday, the Dow Jones recorded its largest weekly drop, falling 1.07%, while the S&P’s main index and Nasdaq declined by 0.71% and 0.62%, respectively.

Despite a lackluster performance from Wall Street’s major indices, 10 companies demonstrated notable resilience. In this article, we will look at their past week’s performance and the reasons that fueled their rally.

To come up with this week’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close-up view of a technician wearing protective gloves while installing a mechanical thrombectomy system.

Inari Medical Inc. (NASDAQ:NARI)

Despite dipping by a marginal 0.01 percent on Friday from Wednesday’s trading, shares of Inari Medical Inc. (NASDAQ:NARI) soared by nearly 52 percent week-on-week to end at $79.29 apiece.

Investor sentiment was buoyed by an announcement of a definitive agreement from Stryker involving the latter’s acquisition of Inari Medical for approximately $4.9 billion.

Inari Medical Inc. (NASDAQ:NARI) is expected to enhance Stryker’s portfolio by expanding its treatment options for venous thromboembolism (VTE), a condition characterized by blood-vein clotting, and other venous diseases through clot removal without the use of thrombolytic drugs.

Each year, VTE impacts nearly one million lives in the United States, mostly those undergoing hospitalization, cancer treatment, and during or after pregnancy.

Overall NARI ranks 1st on our list of the firms that led this week’s rally. While we acknowledge the potential of NARI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NARI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.