A company offering cutting-edge alternatives in cosmetic surgery has gained significantly in premarket trading this morning.
Inmode Ltd. (NASDAQ: INMD) stood up to $17.50 before the bell, a 25% spike from the prior closing.
That’s on the heels of the closure of the company’s initial public offering Monday.
The INMD company released 5 million shares at $14 per share, and began trading on the NASDAQ in a strategy underwritten by Barclays Capital and UBS Securities.
There’s also news that as it unveils its public offering, the Israeli firm has snagged a popular U.S. entertainment personality as a brand ambassador.
A press release Tuesday shows Paula Abdul, pop icon, choreographer singer and actress known for 1980s hits like “Cold Hearted Snake,” has agreed to talk about her use of InMode’s BodyTite and FaceTite technology.
“I am proud to get the word out about what InMode’s amazing technology in face and body rejuvenation can do for people like me who notice the inevitable effects of natural aging,” the rock star herself said of her use of INMD products and services. “While maintaining a healthy lifestyle of fitness and skincare routines, I still wanted more definition and tighter, firmer skin at my jawline and arms – and InMode’s BodyTite and FaceTite helped me restore a sleeker, more youthful look without invasive cosmetic surgery. I am very pleased with the results!”
All of this has propelled this stock significantly, and as of just after the bell, INMD has registered around $16.50 – not bad for the start of a volatile market day.
Let’s see how much of that gain InMode keeps during the trading day and week ahead; initial public offerings often deflate, but this one looks like it might hold steady, and if Lady Paula can attract even a portion of her huge nostalgic base, that’s going to be another feather in INMD’s cap.
