Sincerely saying, the biotech boom will never end in national stock exchanges as those companies are now driving the most of the economy during the pandemic. Without any significantly recent news, Artelo Biosciences (NASDAQ: ARTL) is rocketing 75% to reach the $5 goal this week.
However, speculators are around that stock and will try to buy millions of ARTL shares, later in a couple of hours, they may sell them by pressing the market down. So, $5 could not be achieved that way. Maybe Artelo’s permanent stockholders can buy up millions of shares to push the price over $10 or beyond.
So, the second assumption looks realistic now but let’s see what happens next. This time whales are most welcomed to earn big returns in hours. They could bid for a $4 tag and get more than 100% margin out of short term trades. Even after they quit by selling off the shares, the stock might become reputable to trade even with high volatility.