Today, Focus Universal (NASDAQ:FCUV) is a stock that’s on many investor watchlists. Indeed, this happens to be for a few reasons. One such reason is that FCUV stock is up nearly 300% at the time of writing.
Today’s impressive rally in this patented hardware and software technology company is certainly surprising. Yesterday, Focus Universal officially began trading. Shares closed 2% higher than the public offering price of $5 per share yesterday. However, today’s price action with FCUV stock has brought this company’s stock price to near $20 per share. Rallies like this tend to happen on opening day. Accordingly, the fact that investors have seen such a pop today is intriguing.
From a business model standpoint, Focus Universal is a company worth watching. The company’s hardware and software technologies are aimed at the Internet of Things (IoT) and 5G sectors. These are high-growth areas driven by strong secular catalysts investors have their eye on. Accordingly, some base level of interest was expected.
However, today’s move is much larger than what many expected. Let’s dive into what may be the driver behind this move.
FCUV Stock Moving on Intense Retail Investor Interest
Being such a new stock, Focus Universal’s following is worth noting. On various social media platforms, interest in FCUV Stock is taking off. Today, it’s been noted that FCUV stock currently holds sixth place on the trending tickers on StockTwits.
Indeed, that’s an impressive start for this fledgling company. Heavy retail investor interest has been behind many of this year’s most violent rallies. Today’s impressive upside move in Focus Universal seems to suggest these short-term momentum rallies continue to be highly prevalent.
Whether this momentum can continue from here remains to be seen. However, today has been another strong day for many high-profile meme stocks. Investors who have been focusing on trending tickers of late have done very well. Maybe that’s all investors need to do moving forward? Time will tell.
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.