Investors in SCWorx (NASDAQ:WORX) and WORX stock are seeing a ton of buying pressure today. Indeed, today’s 30% move in WORX stock follows a very strong day yesterday, which saw the stock spike 19%.
Any stock that moves in double-digit fashion on two consecutive days is likely to grab attention. Indeed, SCWorx has now officially become a stock that’s on the radar of retail investors. According to popular sentiment-tracking site QuiverQuant, SCWorx has seen mentions pick up over the past month. Additionally, the company’s short interest ratio has surged to 58%. That’s extremely high.
Given the company’s relatively low price per share, and its high short interest, this is a stock that’s now being targeted as a potential short-squeeze candidate. And today, the company has some additional catalysts investors are relying on.
Let’s dive into what those catalyst are and what’s moving WORX stock.
WORX Stock On the Move As Investors Focus On Short Interest Data
The company’s aforementioned short interest ratio isn’t going unnoticed. Famed investor and Twitter personality Will Meade pointed out today that WORX stock could be the most heavily shorted stock in the market. Now that’s saying something.
Mr. Meade points to a short interest ratio around 75%, a number that’s higher than what’s reported on various sites. This estimate comes from real-time S3 data and is an eyebrow-raiser for sure.
The company’s focus as a big data play on the healthcare sector, as well as SCWorx’s previous mask procurement deals are also in focus for investors. The rise of Covid-19 variants have brought more attention to healthcare and protective equipment plays. Accordingly, WORX stock appears to be in the crosshairs of investors right now.
How high this stock ultimately goes from here remains to be seen. However, the amount of interest in this small-cap company valued at $32 million at the time of writing is impressive. This is a stock I’ll be watching closely from here.
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.
