Why did CDIO surge?

The stock price of CDIO has experienced an significant increase on December 5, 2024. The surge in Cardio Diagnostics Holdings Inc. (CDIO) stock price can be attributed to several factors: 1. **Successful Completion of SOC 2 Type I Audit**: Cardio Diagnostics announced the successful completion of its System and Organization Controls (SOC) 2 Type I audit, which could enhance investor confidence in the company's operations and financial reporting. 2. **Pricing Determinations from CMS**: The company received preliminary pricing determinations from the Centers for Medicare and Medicaid Services (CMS) for its AI-powered cardiovascular tests, which could potentially lead to increased revenue and market expansion. 3. **Potential Catalysts**: The anticipation of CMS announcing preliminary Medicare payment for Cardio Diagnostics' heart disease tests has likely contributed to the surge in stock price. Such announcements can lead to increased investor optimism about the company's financial prospects. In summary, the surge in CDIO's stock price is likely a result of a combination of factors including successful audit, pricing determinations and potential catalysts. |Ticker|Name|Date|Percentage Change|code|market_code| |---|---|---|---|---|---| |CDIO.O|Cardio Diagnostics|20241125|1.2057|CDIO|186| |CDIO.O|Cardio Diagnostics|20241126|15.7856|CDIO|186| |CDIO.O|Cardio Diagnostics|20241127|-3.1833|CDIO|186| |CDIO.O|Cardio Diagnostics|20241129|0.9299|CDIO|186| |CDIO.O|Cardio Diagnostics|20241202|-1.744|CDIO|186| |CDIO.O|Cardio Diagnostics|20241203|0.6363|CDIO|186| |CDIO.O|Cardio Diagnostics|20241204|-0.9651|CDIO|186| |CDIO.O|Cardio Diagnostics|20241205|49.4959677419355|CDIO|186|