Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, September 27, 2024

Article Excerpt

BUTTERFLY NETWORK INC., $1.58, symbol BFLY on New York, is a Guilford, Connecticut-based company founded in 2011. It has created a portable, pocket-sized ultrasound device that plugs into a smartphone or tablet. The Butterfly iQ uses patented, miniaturized computer-chip technology to replace expensive cart-mounted ultrasound devices. In fact, the Butterfly iQ resembles a hand-held electric hair trimmer. Ultrasound testing is typically associated with pregnancy. A doctor can check how a fetus is doing by rolling the ultrasound wand around on a pregnant woman’s belly. But current ultrasound devices have a much wider range of uses. They can scan most of the body, including the cardiac, abdominal, urological, gynecological and musculoskeletal systems. Butterfly’s shares jumped in early September 2024, from around $1 to as high as $2.20. They have since moved back down to today’s price. The jump came after the company announced the European launch of its third-generation iQ3 probe with its P4.3 UoC (Ultrasound-on-Chip) technology. The probe has superior image quality and new…