We’re seeing lots of activity from penny stock PainReform (NASDAQ:PRFX) on Wednesday despite a lack of news from the company.
What we are seeing is heavy trading of PRFX Stock. The company is rising today as some 6 million shares of its stock change hands. To put that in perspective, its daily average trading volume is only about 263,000 shares.
So why are investors so interested in PRFX stock today? It likely has little to do with the company itself and more likely its low stock prices. With shares trading at around $3 each, it’s easy for retail traders to pump up the stock and run with profits. That could be what we’re seeing today.
Keeping that in mind, let’s take a look at what potential investors in PRFX stock need to know about the company.
- PainReform is a clinical-stage specialty pharmaceutical company.
- Its focus is on “the reformulation of established therapeutics.”
- This has it working to develop drug delivery systems that enable longer-lasting relief from pain.
- The company says this could allow patients post-surgery to experience less pain longer without additional drug administration.
- PainReform says that this opens up the door to allow for pain relief after surgery without the use of opiates.
- The company was founded in 2007 and has a Phase 3 clinical trial underway.
- It’s based out of Israel and went public late last year.
PRFX stock was up when markets opened this morning but is currently down 2.9% as of Wednesday afternoon.
Let’s check out what else is happening with the stock market today below!
InvestorPlace tracks the biggest stock stories daily and today is no different. Retail traders are taking over the news cycle today with companies such as Sos (NYSE:SOS) and NeuroMetrix (NASDAQ:NURO) feeling their effects. You can learn about that and more at the following links!
More Wednesday Stock Market News
- SOS Stock: What Reddit Investors Are Saying Today as the Bitcoin Miner Breaks Out
- NURO Stock: Why Reddit Traders Are Targeting Red-Hot NeuroMetrix 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