Why Did VSee Health’s Stock Jump Over 45% Overnight? – VSee Health (NASDAQ:VSEE)

VSee Health Inc. (NASDAQ:VSEE) surged 45.28% to $1.54 in after-hours trading on Tuesday.

Check out the current price of VSEE stock here. 

According to Benzinga Pro data, VSEE closed at $1.06 on Tuesday, up 71.66%.

Federal Authorization Received

VSee, a Massachusetts-based telehealth company, earned FedRAMP High authorization from the Department of Health and Human Services, allowing federal agencies to use its platform where the standard is required.

Dr. Milton Chen, CEO, said, ‘With FedRAMP High ATO, agencies can deploy VSee for secure, real-world patient care—anytime, anywhere.’

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Financial Performance

VSee reported $3.4 million in revenue for the second quarter, up 98% from a year earlier. Its gross profit margin rose to 47% from 45%.

The stock of the AI-powered company is down 22.06% year to date, but has surged 68.25% over the past month.

With a market capitalization of $17.97 million, VSee has traded between $0.46 and $3.54 over the last 52 weeks.

Benzinga Edge Stock Rankings indicate that VSEE has a negative price trend across all time frames. Track the performance of other players in this segment.