Neurobo Pharmaceuticals (NASDAQ:NRBO) stock is on the rise Tuesday as retail traders take a liking to the biotechnology company.
The recent interest from retail traders and others on social media has NRBO stock seeing major trading today. As of this writing, more than 71 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is only about 331,000 shares.
But don’t go jumping on the bandwagon just yet. While it’s true that CRBO is experiencing great gains today, there’s no guarantee it will last. The company is firmly in the penny stock territory, which opens it up to volatility. That’s due to the easy entry price making penny stocks prime targets for pump and dumps.
Keeping all of that in mind, let’s take a look at what potential investors in NRBO stock need to know about the company.
- Neurobo Pharmaceuticals is a clinical-stage biotechnology company based out of Boston, Mass.
- The company’s focus is on developing and commercializing “multimodal disease-modifying therapies for viral, neuropathic and neurodegenerative diseases.”
- It’s still an incredibly new company having only been founded a few short years ago in 2017.
- Following its founding, the company went public via a merger with Gemphire Pharmaceuticals in 2019.
- Investors considering NRBO stock for the long haul need to be aware that it doesn’t currently pay dividends.
- Leading the company is president and CEO Richard Kang.
NRBO stock was up 46.8% as of Tuesday morning but is down 18.6% since the start of the year.
We’ve got plenty of other stock market news investors will want to know about below!
InvestorPlace offers daily coverage of the stock market with the latest stories worth diving into. That includes details about Robinhood’s IPO Roadshow, what to expect from the stock market today, as well as the news sending NeuroMetrix (NASDAQ:NURO) shares higher today. You can learn all about these topics at the following links!
More Stock Market News for Tuesday
- Robinhood IPO Roadshow: What Potential HOOD Investors Need to Watch on July 24
- What Will the Stock Market Do Today? 3 Big Stories to Watch.
- NURO Stock: The ‘Breakthrough’ News Rocketing NeuroMetrix Shares Higher Today
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed