In recent days, the markets have witnessed lots of dramatic rallies in obscure stocks and much of that has been triggered by coordinated targeting of the stocks in question by social media users across many platforms. One of the stocks to have made such dramatic gains was that of the penny stock Blue Sphere Corporation (OTC: BLSP). It seems that last month the stock was targeted by users of the platform Stocktwits and eventually brought about a staggering rally in the Blue Sphere stock.
According to reports, the stock soared significantly after the coordinated actions and ended up handing investors overall gains of as big as $30 million. While the rally in the stock was in keeping with the latest phenomena of retail investors pumping up certain stocks, the rally in the Blue Sphere stock seemed to have taken a bit of a pause yesterday.
Although the stock has soared significantly over the past months and is still in the green, it went down by as low as 45% on Wednesday. It remains to be seen if retail investors can help the Blue Sphere stock in clawing back over the rest of the week.