Back in February, the Asensus Surgical (NYSE: ASXC) stock was flying as investors flocked to it in a big way and sent the stock price soaring.
At the time, the Asensus stock had hit its peak, however, since then, the stock has tanked considerably and gone down by as big as 75%. While the losses since February might be considerable, it should be noted that the Asensus stock is still up by 200% so far this year.
On a fundamental level, the rally in the stock is not deserved. However, it seems that the robotic surgery tools company may have caught the attention of retail investors on Reddit. The stream of buyers in the stock was first noticed back on December 31, when Asensus was trading at 63 cents a share. Eventually, the stock soared to $6.95 a share on February 10. This sort of rallies are not often sustainable and hence, it is not really a surprise that the ASXC stock has tanked in recent months.