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Shares of Neuronetics Inc. (STIM) jumped 16% after-hours on Monday after the firm’s largest independent shareholder called upon its board of directors to conduct a review of strategic alternatives, highlighting the company’s finite resources.
Jorey Chernett, who owns about 14% of the company's outstanding shares, urged the board to consider options including the sale of its Transcranial Magnetic Stimulation (TMS) business.
The shareholder instead recommended that the company’s clinic business operate on a standalone basis.
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