Shares of HealthEquity (NASDAQ: HQY) were jumping 8.2% higher as of 3:07 p.m. EST on Wednesday. The company didn’t report any news. Instead, today’s gain appears to be the result of the overall stock market increase connected with the results of the two Georgia Senate runoff races.
When the stock market goes up, it creates an environment where many stocks move higher in tandem. That’s what we’re seeing today with HealthEquity’s jump. While the healthcare stock notched a solid gain, it’s wise not to make too much of it.