Why is Ampio Pharmaceuticals (AMPE) surging 13%?

On more than 40 million shares Ampio Pharmaceuticals (AMPE) jumps 13% while most stocks fall causing major indexes to plunge at least 2%. AMPE has been slowly climbing since September 2019 with sensitive volatility on over 3 million shares daily.

As all shareholders know the possible candidate Ampion for COVID-19 treatment is going under clinical trials and authorities grant testing protocol for inhaled Ampion. This news could lift the stock today significantly but prolonged studies make some traders inpatient in waiting.

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The negative EPS doesn’t really bother new buyers as it is not huge. Several big earnings may erase this long time “hanging rotten fruit”. If phase 1 finishes with success the stock may reach $10 despite the stock market crash caused by the COVID-19’s second wave.

Jack Dawkins

Finance and Tech Contributor