RadNet Stock Pops on Earnings, GE HealthCare Partnership

The security earlier scored a fresh all-time high

Fernanda Horner

Digital Content Manager

Nov 11, 2024 at 10:42 AM

GEHC
RDNT

Radnet Inc (NASDAQ:RDNT) stock is soaring, last seen up 24% to trade at $89.11 at last glance, after the company reported better-than-expected earnings and revenue for the third quarter. In addition, the radiology name announced a new partnership with GE HealthCare (GEHC).

RDNT is today pacing for its seventh-straight daily gain and biggest single-day percentage pop since March 2020. Shares already sport a 161.2% year-to-date lead, and earlier hit a record high of $90.87. Over the past 12 months, the equity is up nearly 210%.

A short squeeze could fuel additional gains. Short interest is up 15.1% in the most recent reporting period, and the 3.70 million shares sold short account for 5.7% of the security's available float.

Bullish bets are running at 17 times the intraday average, with 1,227 calls exchanged so far. Positions are being opened at the November 90 call, but the most popular contract is the 65 put in that series.

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