The sharp upward movement appears to be driven by anticipation of the company's upcoming first-quarter earnings report, which is scheduled to be released post-market. According to earnings calendars, HealthEquity is expected to report quarterly results with analysts estimating earnings of $1.11 per share.
Investors typically position themselves ahead of earnings announcements based on expectations and sector sentiment, which likely contributed to the pre-report buying activity observed in HealthEquity shares.
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