Today, investors in Alfi (NASDAQ:ALF) and ALF stock are seeing very impressive gains. Shares of ALF stock have surged more than 35% at the time of writing on very heavy volume.
Indeed, today’s move follows previous massive downside swings in ALF stock in recent days. This stock has surged in a high-volatility fashion since the beginning of the month. In that time, shares have moved from below to $3 to greater than $17 today.
Well, it appears ALF stock is in the crosshairs of retail investors. The company’s extremely high level of short interest (currently around 34%) provides the short-squeeze thesis retail investors needed to pile into this name. Indeed, it appears this stock is squeezing as we speak.
Let’s take a look at what investors may want to know about Alfi amid this volatility.
What Investors Need to Know About ALF Stock
- Alfi is an AI stock, with a software-as-a-service (SaaS) business model.
- Alfi has only been publicly traded for two months.
- The company came public via a hotly anticipated IPO on May 3.
- At the time, shares were listed at $4.15.
- Despite dropping below $3 this month, shares have since rallied to be a 3-bagger for early investors.
- A recent share buyback announcement sent shares higher earlier this week.
- Since then, it appears retail traders have jumped aboard, driving shares of ALF stock to an all-time high of more than $20 per share today.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.