One of the penny stocks related to pharmacy Biofrontera (NASDAQ: BFRA) soars more than 400%. On Tuesday BFRA closed at $5.60 when the stock market wasn’t doing well. As investors see healthcare stocks shoot during the COVID-19 pharmacy stock BFRA gains enormous points leaving behind other biotech shares.
Although its EPS is a bit negative traders want to take advantage of its cheap and research and development potential. For some investors, it could be late to join BFRA’s bandwagon as sharply rising stock may end up falling steeply.
Right now Biofrontera is leading the gainers’ list with almost 420% change but may fall due to the speculative behavior of short term traders.