What a nice week for Redditors to try a stock that has meant to be shorted because it has no recent news like updated clinical trials or approval from FDA for certain vaccines or medicine.
Obviously on Monday Inovio (NASDAQ: INO) became the next target to push cosmically high, maybe over $50 in a week. However, not real interest is shown by the Redditors who could make INO shares trade around $40 today. On the other hand, Friday’s trading session is able to lift the stock up to $25 on a dozen million shares.
The spontaneous trade is very dangerous now that relying solely on Reddit based news can burn your hard-earned cash. One needs to heavily rely on diversification as forum-based suggestions do not usually make the rich even richer. They know what the majority isn’t aware of. Therefore, so many factors impact the stock prices, not only Reddit or Stocktwits.