Auris Medical (NASDAQ:EARS) stock is heading higher on Tuesday despite a lack of news concerning the company.
To go along with the rise in price is heavy trading of EARS stock. As of this writing, more than 35 million shares of the stock have changed hands. That’s a massive increase over the company’s daily average trading volume of nearly 2 million shares.
So why is EARS stock up today? It looks like the increase is connected to the rise of Reddit stocks. Several companies that have been favored by retail traders and r/WallStreetBets users are seeing an increase of late. EARS shares just seem to have gotten caught up in the madness.
Keeping that in mind, here’s what investors interested in EARS stock need to know about it before diving in.
- Auris Medical is a clinical-stage company developing therapies for unmet medical needs.
- Its focus is on ‘neurotology, rhinology and allergy and CNS disorders.”
- The company has several product candidates in development.
- That includes AM-125 for vertigo, AM-201 for antipsychotic-induced weight gain and somnolence, AM-301 for protection against airborne pathogens and allergens, and more.
- Auris Medical was founded in 2003 and its headquarters is located in Hamilton HM 11, Bermuda.
- EARS stock joined the public market in July 2014 with an initial public offering.
- The company is led by founder and CEO Thomas Meyer, who was the sole shareholder in the company until 2007.
EARS stock was up 47.5% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.