Semler Scientific set to extend gains after adopting bitcoin as reserve asset
29/05/2024 10:57
** Shares of medical equipment maker Semler Scientific
SMLR.O rise 15% to $33.46 premarket, set to extend gains from
the previous session
** SMLR jumped 24% on Tuesday after its board of directors
adopted bitcoin as its primary treasury reserve asset
** After examining potential uses of cash, including
acquisitions, "we decided that holding bitcoin would be the best
use of our excess cash" - Chairman Eric Semler
** SMLR's flagship product, QuantaFlo, is a rapid
point-of-care test that measures arterial blood flow in the
extremities and aids the diagnosis of cardiovascular diseases
** Stock has lost a third of its value this year
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))