Retail sentiment surged on Stocktwits, with message volume jumping 1,600% for Abbott and 750% for Dexcom.

Retail chatter surged for Abbott and Dexcom on Tuesday after U.S. Health Secretary Robert F. Kennedy Jr. announced a sweeping federal campaign to get wearable health devices into the hands of all Americans.

Abbott Laboratories shares rose 3.6% to close at $138.08 on Tuesday, while Dexcom shares gained 9.7% to end at $87.57 before slipping 0.3% in after-hours trading.

Kennedy, speaking before the House Energy and Commerce Subcommittee on Health, said the initiative, which is part of his "Making America Healthy Again" (MAHA) agenda, would be one of the largest advertising campaigns in the Department of Health and Human Services' history. 

He set an ambitious target: Every American will use a wearable within four years.

The remarks drew investor attention to Abbott and Dexcom, which manufacture continuous glucose monitoring (CGM) devices that are increasingly used beyond diabetes management. 

Shares of Dexcom rose 10%, while Abbott gained 3.6% in afternoon trading.

Kennedy framed wearables as a cost-effective alternative to high-priced prescription drugs, referencing Novo Nordisk’s Ozempic. 

Ozempic costs $1,300 a month, he said, suggesting that similar outcomes could be achieved with an $80 wearable.

On Stocktwits, retail sentiment for both Dexcom and Abbott ended on an ‘extremely bullish’ note late Tuesday, with a 750% surge in 24-hour message volume for Dexcom and a 1,600% spike for Abbott.

Earlier this month, DexCom received 'Buy' ratings from Truist and Goldman Sachs, with price targets of $102 and $104, respectively.

Truist sees DexCom as a leading innovator in the fast-growing CGM market. 

The firm believes recent execution issues are behind the company and expects sustained mid-teens revenue growth, driven by broader adoption in both type 1 and type 2 diabetes markets.

Shares of Tandem Diabetes (TNDM), which recently agreed to integrate its insulin delivery systems with Abbott's upcoming dual glucose-ketone sensor, rose more than 1.7% in Tuesday's after-hours trading. 

The HHS news also lifted other players in the CGM space, including Insulet Corporation (PODD) and Medtronic (MDT).

So far this year, Dexcom shares are up 11.6%, while Abbott has gained 21.7%.

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