So here's a thing that happens sometimes: a tiny company announces some progress, and its stock goes absolutely bananas. That's what happened with OneMedNet (ONMD) on Friday, when shares jumped more than 80% after the company said it's moving forward with the commercial rollout of its real-world data platform. The twist? The platform is built on Palantir Technologies Inc.'s (PLTR) Foundry software. It's like getting a credibility boost from the data-mining pros.
Think of it this way: OneMedNet has been letting potential customers kick the tires on its platform. Now, it's trying to turn those test drives into actual subscriptions. The goal is to create predictable, recurring revenue—the kind of thing investors love to see from a software company. CEO Aaron Green said customer feedback has been positive, highlighting the platform's "performance, speed, and depth of discovery." He framed it as validation for their strategy of "combining conversational AI-driven search with scalable, prospective data feeds." In simpler terms: they're trying to make it easier for healthcare and life sciences companies to find and use real-world patient data to answer questions and build evidence.
The company isn't starting from scratch. Its iRWD platform already has connections to over 2,130 healthcare sites. The idea with this next phase is to add more scale and offer near real-time access to what they call "regulatory-grade multimodal data." That's a fancy way of saying comprehensive clinical data that meets the standards needed for things like drug approvals. The target customers are life sciences companies and AI health innovators who need this data to streamline their work and speed up research.
What makes the stock move even more interesting is the context. The broader market was having a rough day. The S&P 500 was down about 1%, the Dow was down more, and the Nasdaq was in the red too. Yet, the healthcare sector managed a small gain. So, while the overall tide was going out, OneMedNet's specific piece of news was enough to send its boat rocketing forward. It's a reminder that sometimes, a company-specific story can completely override the day's market mood.
Now, let's talk about the stock itself, because the chart tells a different story than the day's headline. Despite the huge pop, the stock is still trading 12.5% below its 20-day simple moving average and a full 20% below its 100-day average. That tells you there's been some serious weakness recently. Over the past year, the shares are down significantly and are much closer to their 52-week lows than their highs. Friday's rally was a big step, but it's coming from a very low base.
The technical indicators are sending mixed signals, which is pretty typical after a violent move. The Relative Strength Index (RSI) is sitting right at 50, which is the neutral line—neither overbought nor oversold. Meanwhile, the MACD indicator is below its signal line, which is usually read as a bearish sign. So, you have neutral momentum from one measure and bearish pressure from another. For traders, the key levels to watch are now $1.50 as resistance (a ceiling the price might struggle to break through) and 75 cents as support (a floor it might bounce off of if it falls).
As for what the pros think, there's no formal analyst rating or recent actions to report. Sometimes with smaller companies, the market itself is the first and loudest analyst. On Friday, the market's verdict was a resounding, screaming buy, at least for the day. OneMedNet shares closed up 81.46% at $1.28. It was a dramatic vote of confidence in the company's plan to turn its Palantir-powered data platform into a real, subscription-based business.
