Alright, folks, let’s talk about a stock that’s lighting up the market today—Helius Medical Technologies, Inc. (NASDAQ: HSDT). As of this writing, HSDT is rocketing, up over 80% in pre-market trading, and it’s got traders buzzing like a beehive at a flower festival. Why the big move? A major healthcare payer just gave a green light to their flagship device, and that’s got investors seeing dollar signs. But before you jump in headfirst, let’s break down what’s going on, why it matters, and the risks and rewards of riding this wave. Plus, if you’re into staying ahead of the market’s wild swings, you can get free daily stock alerts sent right to your phone by tapping here. Now, let’s dive in!

The Catalyst: Aetna Says “Yes” to PoNS

The big news driving HSDT’s surge today is that Aetna Healthcare, a heavyweight in the insurance world, has authorized reimbursement for Helius’ Portable Neuromodulation Stimulator (PoNS) device at an out-of-network price of $18,350. This makes Aetna the third major payer—joining Anthem and United Healthcare—to back this innovative device for patients with multiple sclerosis (MS). That’s a huge deal! When big insurers start covering a medical device, it’s like a neon sign flashing “growth potential” to investors. More coverage means more patients can access the PoNS device, which could translate to more sales and revenue for Helius down the line.

For those not in the know, the PoNS device is a game-changer in neurotech. It’s a non-invasive gadget that delivers mild electrical impulses to the tongue—yep, the tongue!—to help improve balance and gait in people with neurological issues like MS or stroke. It’s used alongside physical therapy, and studies have shown it can make a real difference, especially for MS patients struggling with mobility. The fact that Aetna’s on board now, even at an out-of-network rate, is a stepping stone toward broader in-network coverage, which could push reimbursement rates closer to the $26,228 the VA and Department of Defense are already paying. That’s the kind of progress that gets Wall Street excited.

Why This Matters for Traders

So, why’s the stock jumping like a kid on a trampoline? It’s all about momentum and market perception. When a company like Helius scores a win like this, it signals to investors that the business is gaining traction. Insurance coverage isn’t just about money—it’s about credibility. When major players like Aetna, Anthem, and United Healthcare say, “We’ll pay for this,” it tells the market that the PoNS device is legit and could become a standard treatment option. That’s a big deal for a small-cap company like Helius, with a market cap hovering around $1.86 million before today’s surge.

As of this writing, HSDT’s stock price is climbing fast, but let’s put this in perspective. The stock’s been a wild ride—down 91.5% year-to-date and 94.88% over the past 12 months, according to recent reports. Ouch! But today’s news is flipping the script, at least for now. The stock opened at $4.20 recently, with a 52-week range from $3.32 to a high of $26.35. That volatility screams opportunity for traders, but it also screams risk. More on that in a bit.

The Bigger Picture: Helius’ Journey and Challenges

Helius isn’t just some fly-by-night operation. They’re a neurotech company focused on helping people with neurological deficits, particularly those with MS, stroke, or traumatic brain injuries. Their PoNS device is already approved in the U.S. for short-term treatment of gait issues in MS patients (by prescription only) and has broader approvals in Canada and Australia for stroke and traumatic brain injury. The FDA even gave it a Breakthrough Device Designation for stroke-related gait issues back in 2021, which is like the FDA saying, “Hey, this thing could be a big deal.”

But it hasn’t been all smooth sailing. Just last week, Helius announced a public offering of 2.77 million shares at $3.27 each, raising about $9.1 million. The catch? That offering flooded the market with new shares, tanking the stock by 61% as trading volume hit 27.6 million shares. Dilution is a dirty word in the stock world, and Helius has had to do a lot of it to keep the lights on. They also pulled off a 1-for-15 reverse stock split in May 2025 to stay compliant with Nasdaq’s minimum bid price rule, which they achieved by June 3. But they’re still under pressure to meet Nasdaq’s equity requirements by June 30, or they could face delisting. That’s a dark cloud hanging over the party.

Financially, Helius is a mixed bag. They’ve got more cash than debt—$6.4 million in cash as of June 30, 2024, with no debt—but they’re burning through it fast. Revenue is tiny ($0.52 million in the last 12 months), and they’re deep in the red with an EBITDA of -$13.8 million. Analysts aren’t expecting profitability anytime soon, with Q1 2025 earnings projected at a loss of $0.92 per share. Yet, there’s optimism in some corners: one analyst has a $4.00 price target, suggesting a 22.33% upside from the recent $3.27 price before today’s jump.

Risks and Rewards: What’s the Play?

Let’s get real—HSDT is a speculative stock, and speculative stocks are like riding a rollercoaster blindfolded. The rewards? If Helius keeps landing reimbursement deals and moves toward in-network coverage, the PoNS device could become a go-to treatment for MS and other conditions. That could drive revenue through the roof for a company this small. Plus, their focus on neurotech taps into a growing market—neurological disorders aren’t going away, and innovative treatments are in high demand. Today’s surge shows the market’s ready to reward good news.

But the risks are just as big. The company’s burning cash faster than a teenager with a credit card, and those public offerings keep diluting shareholder value. The Nasdaq listing requirements are still a hurdle, and if they don’t meet the equity rule by June 30, delisting could crush the stock’s liquidity and appeal. Plus, with revenue so low and losses piling up, Helius is a long way from profitability. If reimbursement negotiations stall or the PoNS device doesn’t gain wider adoption, today’s gains could vanish faster than a bad sitcom.

For traders, this is where the rubber meets the road. Volatility like today’s can be a day trader’s dream—big swings mean big opportunities for quick gains. But timing is everything, and HSDT’s history shows it can drop just as fast as it spikes. Long-term investors might see potential if they believe in the PoNS device’s future, but they’ll need a strong stomach for the ups and downs. Want to keep your finger on the pulse of stocks like HSDT? Sign up for free daily stock alerts, here to get tips and updates sent straight to your phone.

What’s Next for HSDT?

Helius is at a crossroads. The Aetna reimbursement is a big win, and with Anthem and United already on board, they’re building momentum. The company’s working hard to secure in-network coverage at higher rates and is pushing for Medicare reimbursement, which could open the floodgates for more patients. Their PoNS device has real potential to change lives, and the science behind it—using neurostimulation to boost the brain’s ability to adapt—sounds like something out of a sci-fi movie, but it’s real and it’s here.

Still, the road ahead is bumpy. Helius needs to keep raising cash without drowning shareholders in new stock offerings. They’ve got to navigate Nasdaq’s rules, boost revenue, and prove the PoNS device can scale. If they pull it off, today’s surge could be the start of something big. If not, it’s another chapter in a volatile story.

The Bottom Line

HSDT is stealing the spotlight today, and for good reason—Aetna’s reimbursement approval is a game-changer for a company fighting to prove itself. But trading stocks like this is like dancing with a wild partner: thrilling, but you might get stepped on. The potential for growth is there, but so are the pitfalls. Whether you’re a day trader chasing the surge or a long-term believer in neurotech, do your homework and know what you’re getting into. And if you want to stay on top of the market’s next big movers, grab those free daily stock alerts, here. Keep your eyes open, folks—this market doesn’t sleep!