Koss Corporation (NASDAQ: KOSS), the company which is involved in the manufacturing of stereo headphones, was one of the targets of the Reddit community WallStreetBets last month.
The stock had closed the day at only $3.34 a share back on January 22 but after being targeted as part of a short squeeze by the WallStreetBets community members, it soared to $127.45 four days later. Those were unprecedented profits and allowed members of the Koss family to make a fortune out of selling their stocks.
In recent days, the stock has climbed down from those highs and at the start of trading yesterday it was well on its way to the usual single digits again. The short squeeze in the stock resulted in a recent spike of 55% and it remains to be seen if the Koss stock comes into the attention of investors in the coming days again. However, it is highly unlikely that the stock is going to see the sort of action that it saw back in January.
Finance and Entertainment Reporter
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