Rewalk Robotics (NASDAQ:RWLK) stock is surging higher on Tuesday as a short-squeeze has retail and meme stock traders pumping up the shares.
The medical device company that creates exoskeletons that help disabled people walk again is catching the eye of investors despite a lack of news today. Instead, it looks like a typical case of traders on social media coming together to push shares higher.
This has several major stock trader accounts on Twitter calling out RWLK stock as it soars higher today. Some are noting its price target of $3.50 per share as a good reason to boost it higher. For comparison, the stock was trading at $1.30 per share when markets closed on Monday.
So while retail investors come together to burn shorts of RWLK stock, what does this mean for the average trader? There’s no harm in keeping an eye on the stock but don’t go all-in on it without expecting some risk.
RWLK is firmly in the penny stock territory, which means it’s easy for traders to manipulate with its low entry price. That means we might see the stock fall again once this short-squeeze stops rallying shares higher. When that happens, you don’t want to be the one taking losses for other traders’ profit.
Of course, a short-squeeze comes with heavy trading. As of this writing, more than 95 million shares of RWLK stock have changed hands. That’s a major increase over its daily average trading volume of just 405,000 shares.
RWLK stock was up 40% as of Tuesday morning.
There’s more stock market news traders will want to know about below!
InvestorPlace has all the latest stock coverage for Tuesday. That includes what to know about QuantumScape (NYSE:QS), Uber (NYSE:UBER), and Lucid Motors (NASDAQ:LCID) today. You can find all that info at the following links!
More Stock Market News for Tuesday
- QS Stock Alert: The Automaker Deal That Has QuantumScape Investors Smiling Today
- Uber News: Why UBER Stock Is the No. 1 Trending Stock Today
- Dear LCID Stock Fans, Mark Your Calendars for Sept. 27
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.
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