After a temporary correction, Regional Health Properties Inc (NYSEAMERICAN:RHE) stock is back in action on Wednesday. At the time of writing, RHE stock is trading higher by 91.34% at $19 after hitting a multi-year high of $20.54 earlier in the session.
RHE stock has seen a roller coaster ride over the past week or so. The stock was trading a mere $4.40 on April 27th. Since then the stock has been witnessing continuous buying pressure as it went as high as $16.09 by May 3rd. However, the stock pulled back quickly yesterday and fell back to $8.85.
However, this morning the picture is different as the stock has surpassed the previous high and now sitting at a 5-year high. Moreover, the stock is seeing heavy volume with more than 34.50 million traded hands in the first 2 hours of trading.
But it’s worth noting that the recent jump has been driven without any news. So if you are trading RHE stock, then be very careful as the company is a small company with a market cap of $32.66 million.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.