Nxt-ID (NASDAQ:NXTD) stock is running higher on Tuesday despite a lack of news from the company this morning.
Instead, it looks like we have retail investors to thank for the boost to NXTD stock. Chatter on social media points to a short squeeze of the shares as traders take advantage of a low float and cheap entry price.
Trading volume for NXTD stock today backs this up with more activity than normal. As of this writing, over 16 million shares of the stock have changed hands. That’s already well above the company’s daily average trading volume of 2.3 million shares.
Of course, traders will want to approach NXTD stock with caution today. While these short squeezes can be a quick way to pocket some profits, they don’t last long. Investors can expect to see the shares fall after it’s done and someone has to be left holding the bag.
With that in mind, here’s what potential NXTD investors need to know about the company.
- Nxt-ID is “a manufacturer and distributor of non-monitored and monitored personal emergency response systems.”
- These are handled by its subsidiary, LogicMark.
- LogicMark sells those devices through the dealers and distributors, as well as the United States Department of Veterans Affairs.
- Chia-Lin Simmons leads the company as its CEO and has more than 26 years of experience as an executive of technology companies.
- The market cap for Nxt-ID is sitting at $42.211 million.
NXTD stock was up 8.6% as of Tuesday morning but is still down 68.8% since the start of the year.
We’ve got more recent stock market news to dive into below!
InvestorPlace offers all the latest stock market coverage that traders need. A few examples of stories worth looking into include NextNav (NASDAQ:NN) and Bone Biologics (NASDAQ:BBLG) shares soaring higher, as well as this morning’s biggest pre-market stock movers. You can find all of that news at the following links!
More Tuesday Stock Market News
- NN Stock: Why Is Little-Known NextNav Soaring 10% Today?
- BBLG Stock Alert: What Is Going on With Bone Biologics Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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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