MultiPlan Corporation (NYSE:MPLN) Stock Sees Value Buying After The Fall
Tech powered cost management, revenue integrity products, payments and data analysis firm MultiPlan Corporation (NYSE:MPLN) was on the radars of many investors yesterday.
Market Stats
On Thursday, MPLN stock moved up 9.31% at $4.11 with more than 7.11 million shares, compared to its average volume of 4.62 million shares. The stock has moved within a range of $3.6500 – 4.1200 after opening the trade at $3.70.
Major News
Not too long ago, the stock had suffered from a selloff and had declined sharply, but on Thursday, it managed to make a strong comeback and went up by as much as 9.50%. However, at the same time, it should be noted that the stock is still down by as much as 9% for the past week. Yesterday, MultiPlan was in the news after it made an announcement with regards to the fact that it was going to be a participant at a fire side chat at the Credit Suisse 30th Annual Healthcare Conference.
It was an important industry event that had been hosted by one of the biggest banks in the world and hence, the excitement among investors was perhaps understandable. It should be noted that the event actually took place yesterday virtually and had commenced at 4-20 pm Eastern Time. In this regard, it should also be pointed out that some of the top executives from MultiPlan Corporation participated in the event. It remains to be seen if the stock continues to add to its gains today or not.
Traders Corner
MPLN stock is trading below the 20-Day and 50-Day Moving averages of $4.43 and $5.21 respectively. Moreover, the stock is trading below the 200-Day moving average of $6.80. The stock is down 40% in the past 3-month.
