Eargo stock skyrockets following FDA clearing over-the-counter hearing aid sales

Markets reporter Jared Blikre joins the Live show to look at hearing aid developer Eargo's stock.

Video transcript

JARED BLIKRE: Now the delightful-- we've got to shift gears. The delightfully named hearing aid manufacturer, Eargo, ticker EAR, is up. And you can see, well, it's up another-- substantially down 90% over this time period. Let's see if we can get an intraday because over the last two days, it has been soaring. I think it was up 100% yesterday at its highs and close to that today.

Now you can see this is a stock that has come to market down significantly. However, there are some developments within the hearing aid space. Yesterday, it was announced that the FDA is going to be clearing hearing aids to be sold over the counter. And you can see-- now here we go-- the stock is up 53% today. Over the last two days, even something more substantial.

Now, is this a meme stock? Hard to say, but I thought we'd just kind of test the waters here and see what the other meme stocks are doing today. Looking like a sea of red. You can see Coinbase down about 4% there. Bed, Bath & Beyond, one of the few outliers, that stock up another significant double digits today. So Bed, Bath & Beyond kind of the story of the week maybe? Is it that slow of a week?

DAVE BRIGGS: I would say, yeah, probably.

SEANA SMITH: It's huge, yeah.

DAVE BRIGGS: Hard to argue that any stock has been a bigger story thus far this week. It's been a wild ride.