Why iRhythm Technologies Stock Skyrocketed 248% in 2020

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Shares of iRhythm Technologies (NASDAQ: IRTC), which makes wearable biosensors for detecting cardiac arrhythmias, soared 248% in 2020, according to data from S&P Global Market Intelligence. That performance made it one of the five best performing medical device stocks of the year

For context, the S&P 500 index returned 18.4% last year.

iRhythm stock started 2021 with a loss of its winning groove. It’s down 6.5% through Jan. 7, whereas the broader market has returned 2% over this period. 

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