Is Surgalign (SRGA) a Buy Penny Stock?

What a nightmare is happening to poor SRGA right after offering $20 million worth of shares to the public. I’m going to be talking about what personally do with SRGA. How would I come out of it and would I be profitable? Then I’ll talk about if I have potential future plans of re-buying or swinging the stock in the future. So yeah let’s talk about it. Alright, so personally as we’ve outlined in past posts, maybe like a thousand or so past posts.UPS Healthcare Medical Devices - Turkey

The only thesis for this company is not a long-term investment. SRGA was the 510k approval and as I said historically companies that have gotten 510k approvals have gone up around 50 to 55 percent intraday. In reaction to that news with SRGA I thought maybe yeah would probably be around that or even higher than that given. How terribly the stock was traded; it seemed like pessimism was already maxed out at around 75 to 85 cents. So on Saturday, they must have approved it. Late Friday even after post-market trading we found out that the 510k was approved. So I knew that on Monday I was going to wake up early to see this thing immediately as some swing traders came in.

So market open I woke up to around a 33% rise with the company. Up 25% intraday for instance I sold around the quarter of my position and then I set a stop loss a bit under at around $0.9. So overall I got out with a 20% profit. This is just an assumption of speculating player. Today it is digging a grave at $0.3540 by falling 42%. It is better to wait until Monday’s session for getting a clear picture of what to do next. For me, this stock still looks feasible to buy but we have to spend some hours to see a bullish signal.