Why Shares of iCoreConnect Jumped on Wednesday

What happened

Shares of iCoreConnect (NASDAQ: ICCT) were up more than 19% on Wednesday as of 2 p.m. ET after the healthcare cloud-based software and technology company announced product updates. The stock is up more than 195% so far this year and earlier in the day hit a high of $10.98 a share.

So what

iCore announced on Wednesday that it is coming out with a new version of its iCoreExchange encrypted email, compliant with privacy regulation under the Health Insurance Portability and Accountability Act (HIPAA), and referral network. The company said it was updating its user interface, adding Google Chrome notifications, a simpler two-factor authentication, and a better email platform. The newer product, iCoreExchange V6.0, is expected to be more efficient and more secure, the company said. iCore provides a number of systems to improve efficiency and billing for dental practices and healthcare systems.