Semler Scientific Stock Is Surging Thursday: What's Going On?

Semler Scientific, Inc. (NASDAQ:SMLR) shares are trading higher Thursday potentially following the company's recent announcement about its Bitcoin (CRYPTO: BTC/USD) activity, capital markets updates and performance indicators. Here’s what you need to know.

What To Know: Multiple crypto-linked stocks are moving higher on Thursday after Bitcoin hit new all-time highs above $98,000. Some names are outperforming and it appears to be a result of recent Bitcoin accumulation strategies.

MicroStrategy and MARA Holdings have outperformed peers in recent trading sessions. Both companies recently completed offerings and used the proceeds to buy additional Bitcoin as they focus on stockpiling.

Semler Scientific has also adopted a Bitcoin treasury strategy. The company announced it raised $21.5 million through the sale of 505,544 shares of its common stock under an at-the-market offering earlier this week. The proceeds partially funded the company’s recent Bitcoin purchases.

Semler said it purchased 215 Bitcoin for $17.7 million in cash at an average price of $82,502 between Nov. 6 and Nov. 15. The company now holds a total of 1,273 Bitcoin, acquired for a total cost of $88.7 million.

The rise in Semler's stock price suggests investors are optimistic about the company's strategic use of equity to expand its Bitcoin holdings.

SMLR Price Action: Semler Scientific shares were up 18.9% at $70.50 at the time of publication, according to Benzinga Pro.

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