When a stock dips considerably after hitting significant highs, it is not always bad news. It can prove to be an opportunity for investors to get into the stock.
Hence, investors could consider taking a look into the Blue Sphere Corporation (OTC: BLSP) stock and work out if the stock is worth investing in after it corrected. On Friday, the stock dived by as much as 40% from its recent peak.
That being said, investors need to keep in mind that Blue Square is a little-known stock, and the remarkable rally in the stock was triggered after users on the social media platform StockTwits targeted it. It is part of a larger trend in recent weeks and many such rallied have been seen in penny stocks. In this sort of situation, investors hardly look at the fundamentals of the company before they decide to invest. Hence, it might be a good idea to keep an eye on the stock and look for any such dramatic rallies.