Allied Healthcare Products (NASDAQ:AHPI) stock is rising higher on Tuesday despite a lack of news concerning the company.
While there’s nothing new from Allied Healthcare Products, that doesn’t mean the rise is for no reason. The company has a decently high short ratio of 18%. In addition to that, it looks like retail traders on social media have taken a liking to AHPI stock. These two factors are likely what has it gaining today.
The increasing attention of AHPI stock is resulting in heavy trading today. That has some 100 million shares of the stock changing hands as of this writing. This is a massive surge compared to the company’s daily average trading volume of about 208,000 shares.
Allied Healthcare Products’ high short interest, low price, and low trading volume make it a perfect target for retail traders. They’re likely pumping up the stock to push out shorts, but the price could fall again soon.
Keeping all of that in mind, let’s take a look at what potential investors need to know about Allied Healthcare Products below.
- As the company’s name implies, it is a manufacturer of medical products used by healthcare companies.
- Its focus is on “medical gas construction equipment, respiratory therapy equipment, home healthcare products, and emergency medical supplies.”
- Allied Healthcare Products’ history dates back to the 1930s when it served as a department of National Cylinder Gas (NCG) in Chicago.
- The company changed to its current name in 1980.
- It then when public via an IPO in 1992.
AHPI stock was up 144.2% as of Tuesday afternoon.
If you’re interested in other meme stocks running higher on a lack of news today, then keep reading!
InvestorPlace has all the latest coverage of meme stocks on the move today. That includes what to know about Exela Technologies (NASDAQ:XELA) and SCWorx (NASDAQ:WORX) as they rally today. You can find that info at the links below!
More Meme Stocks News for Tuesday
- XELA Stock: What Investors Are Saying as the Short Squeeze Continues in Exela Technologies
- WORX Stock: 6 Things to Know About New Short-Squeeze Play SCWorx
- WORX Stock: Meme Investors Are Looking to Squeeze SCWorx Next
On the date of publication, William White 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.
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