Orbsat (NASDAQ:OSAT) stock is surging higher on Tuesday as retail traders are hyping up the company on social media.
There’s no direct news from Orbsat today that explains why the shares are on the move. Even so, that isn’t stopping investors from shining a light on shares of OSAT stock as they race higher today.
As a result, OSAT stock is experiencing heavy trading on Tuesday. As of this writing, more than 7 million shares of the stock have changed hands. That’s already well above the company’s daily average trading volume of around 3.5 million shares.
So why are retail traders taking such a liking to Orbsat today? It likely has to do with the penny stock’s low entry price. This makes it easy for such traders to pump up shares of a company before jumping out with their profits.
Let’s take a look at what retail traders are saying on Twitter (NYSE:TWTR) below!
OSAT Stock Chatter
— سرحان (@e_ml8) July 27, 2021
$OSAT if the numbers are accurate and 100% of the O/S is short this could really get wild; low float and super short, gotta have some.
I remember $DRYS 2017 $3.00-$100.00 in a few days on a similar scenario. DeJa Vu? 🤔 just saying….. not trying to predict the future but wow. https://t.co/reFEKnZ4R5
— SheepWolf (@realsheepwolf) July 27, 2021
Will be waiting patiently for 5.60 $OSAT
— R mac (@RLKMac) July 27, 2021
— EvilTrader — ❌ (@TraderEvil) July 27, 2021
— Edgar Allan Yolo (@YoloPoe) July 27, 2021
Considering the penny stock status of OSAT, traders will want to be careful about making any investments in the company. A quick fall could be on the horizon that could leave unaware traders left holding the bag.
OSAT stock was up 11.9% as of Tuesday morning but is down 50.2% since the start of the year.
Investors seeking more stock market news will want to keep reading!
InvestorPlace keeps up with the stock market daily and offers up our insight to traders. That includes the latest concerning Workday (NASDAQ:WDAY), Exela Technologies (NASDAQ:XELA), as well as what else to expect today. You can learn about these matters by following the links below!
More Stock Market News for Tuesday
- WDAY Stock: The Amazon News That Has Workday Shares Slipping Today
- XELA Stock: What Exela Technologies Investors Are Saying About the Short-Squeeze Candidate Today
- What Will the Stock Market Do Today? 3 Big Stories to Watch.
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