Chad

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<p class="has-drop-cap">Wall Street saw mixed movements on Monday as investors reacted to major news affecting several notable stocks. Insulet Corporation (NASDAQ: PODD) surged on <a aria-label="FDA approval for its diabetes treatment device (opens in a new tab)" href="https://www.medicaldevice-network.com/news/insulet-omnipod-cleared-by-fda-for-type-2-diabetes/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">FDA approval for its diabetes treatment device</a>, while Super Micro Computer (NASDAQ: SMCI) faced pressure from a <a aria-label="short-seller report (opens in a new tab)" href="https://hindenburgresearch.com/smci/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">short-seller report</a>. Meanwhile, Paycom Software (NASDAQ: PAYC) saw <a href="https://www.marketbeat.com/instant-alerts/nyse-payc-insider-buying-and-selling-2024-08-26/" target="_blank" aria-label="insider selling activity (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">insider selling activity</a>.</p>
<h3 id="insulet-corporation-podd-stock-surges-after-fda-clearance">Insulet Corporation (PODD) Stock Surges After FDA Clearance</h3>
<p>Shares of Insulet Corporation jumped 7.68% to $194.57 after the FDA cleared its Omnipod 5 Automated Insulin Delivery System for type 2 diabetes. <br><br>This marks the first such system approved for both type 1 and type 2 diabetes. Clinical trials showed significant improvements in glycemic control, with an overall 0.8% reduction in HbA1c levels. The tubeless device communicates with continuous glucose monitors to regulate blood sugar levels. <br><br>Despite the day’s gains, Insulet’s stock remains down 10.33% year-to-date, with a market capitalization of $13.64 billion.</p>
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<h3 id="super-micro-computer-inc-smci-short-position-announced-by-hindenburg-research">Super Micro Computer Inc. (SMCI) Short Position Announced by Hindenburg Research</h3>
<p>Super Micro Computer’s stock fell 1.45% to $554.34 following an announcement by Hindenburg Research of a short position in the company. <br><br>The well-known short-selling firm alleged accounting irregularities, undisclosed related party transactions, and potential sanctions violations following a three-month investigation. Hindenburg’s report also highlighted customer issues and product quality concerns. Despite the day’s decline, SMCI’s stock has seen remarkable growth, up 95.03% year-to-date and 2,769.57% over the past five years. The company’s market cap stands at $32.46 billion.</p>
<h3 id="paycom-software-inc-payc-insider-selling-triggers-stock-dip">Paycom Software Inc. (PAYC) Insider Selling Triggers Stock Dip</h3>
<p>Paycom Software saw its stock dip 0.60% to $163.63 amid reports of insider selling. CEO Chad R. Richison sold 1,950 shares at an average price of $162.27 on August 23, totaling $316,426.50. <br><br>Following the transaction, Richison retains direct ownership of 2,961,308 shares valued at approximately $480.5 million. Paycom’s stock has struggled in 2024, down 20.33% year-to-date and 42.37% over the past year. The company’s market capitalization currently sits at $9.40 billion, with a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">price-to-earnings ratio</a> of 19.88.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article. Stock prices quoted at the time of writing (10:46 AM EDT).</em><br></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-podd-smci-and-payc/">Stocks to Watch Today: PODD, SMCI, and PAYC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: PODD, SMCI, and PAYC

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