ReShape Lifesciences (RSLS) Plunges 9.71% Amid Distribution Deal

ReShape Lifesciences (RSLS) shares plummeted 9.71% today, marking the third consecutive day of decline, with a cumulative drop of 25.61% over the past three days. The stock price hit its lowest level since September 2024, experiencing an intraday decline of 21.05%.

ReShape Lifesciences has recently expanded its product offerings by signing an exclusive U.S. distribution agreement with Motion Informatics, an Israeli company. This partnership allows ReShape to import and distribute Motion Informatics' advanced neuromuscular rehabilitation devices, such as the Stimel-03, in the U.S. market. This strategic move not only diversifies ReShape's portfolio but also aligns with its commitment to enhancing patient outcomes through innovative technology.

The short interest in RSLS stock has seen a notable decrease in March, suggesting a shift in investor sentiment. This reduction in short interest could indicate that investors are becoming more optimistic about the company's future prospects, potentially driven by the recent strategic partnership and the expansion into the rehabilitation technology sector.