Second Sight Shares Sharply Higher, Up 45%

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Second Sight Medical Products Inc EYES shares were trading sharply higher by $5.24 (45 percent) at $17.04. It has nearly doubled since ending last Friday's session at $8.75.

It received a boost on Wednesday when it was announced the first commercial implants of Argus II retinal system in France. It rallied on that day from Monday's close ($8.48) to $11.20 on Tuesday. The rally continued on Wednesday as the session ended at $13.90.

After a $2.00 retreat on Thursday, it opened higher (Thursday's close of $11.80 vs. Friday's open $12.36) and continued in that direction. So far, it has rallied to $17.33 before pulling back to the $17.00 level.

The all-time high for the issue was made in its inaugural month of trading (November 2014) at $24.02 before swooning to $8.05 in January and staging its current rally.

Shares are up 96 percent over the past five tradings sessions.