Why Microbot Medical Shares Are Sliding Today

Microbot Medical Inc MBOT is trading lower Tuesday as the stock pulls back following Monday's strength.

Microbot Medical shares surged Monday after the company announced a strategic collaboration with Stryker Corporation to develop the LIBERTY robotic system for neurovascular applications.

Microbot Medical said it will continue to develop the LIBERTY Robotic System independently for use in peripheral and coronary procedures. 

"We have already ensured that the LIBERTY Robotic System has a strong and sustainable competitive advantage, and the collaboration with Stryker will allow us to further expand in the neurovascular space," said Harel Gadot, chairman, president and CEO of Microbot Medical.

Microbot Medical is a pre-clinical medical device company. It specializes in research, design and development of next generation micro-robotics assisted medical technologies.

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MBOT Price Action: Microbot Medical has traded as high as $10.69 and as low as $4.31 over a 52-week period.

The stock was down 6.59% at $8.36 at publication time.