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IINN Stock Alert: Is a Big Short Squeeze Brewing for Inspira Technologies?

Are shares of Inspira Technologies (NASDAQ:IINN) about to give bulls one last short squeeze to end the year? After IINN stock rallied 27.5% on Thursday, it was certainly in the realm of discussion.

Man squeezing water out of a rag.

Source: Alextype/Shutterstock.com

 

While IINN stock opened higher on Friday and rallied more than 6% at the session high, it has now turned lower on Friday. Shares are now down over 6% on the day. 

One Reddit post noted that Inspira could have the potential to rally 200% to 400% as the stock “recently rose to the top of the short squeeze score list.” 

Earlier this month, on Dec. 9, Inspira stock caught a huge boost on positive news. Shares closed higher by 84% on the day after it signed a distribution deal with Innovimed

As it relates to Covid-19 and the omicron variant, Inspira can be a sensitive stock. That is because it provides “an alternative to mechanical ventilation used today to save the lives of patients with acute respiratory failure.”

Since making its debut in mid-July, this stock has been all over the place. Shares peaked on the first day of trading, hitting a high of $4.43. From there, IINN stock was caught in a nasty downtrend, bottoming near $2.25. 

However, that was followed by a one-day explosion in the share price. 

IINN stock enjoyed a one-day 300% gain on Oct. 26, closing at the absolute high of the day after generating trading volume of 172.9 million shares. The joy was short-lived though, with shares falling almost 60% in the next session. 

Will IINN Stock Spark One Last Short Squeeze for 2021?

The short squeeze trade got off to a strong start in 2021. That’s when we saw GameStop (NYSE:GME) lead the charge, erupting 2,400% over just a couple of weeks in January. 

Countless other names surged on the momentum, ranging from Bed Bath & Beyond (NASDAQ:BBBY) and BlackBerry (NYSE:BB) to obscure penny stocks and newly established SPAC holdings. 

AMC Entertainment (NYSE:AMC) popped off later in the year, leading another round of short squeezes in May. 

With Thursday’s rally combined with this week’s low trading volume across the board, it’s still possible we see a late-day move in Inspira. If not, 2021 is not necessarily a deadline. Keep an eye on this one to see if there’s any short squeeze life in it. 

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Read More: Penny Stocks — How to Profit Without Getting Scammed 

On the date of publication, Bret Kenwell 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.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.


Article printed from InvestorPlace Media, https://investorplace.com/2021/12/iinn-stock-alert-is-a-big-short-squeeze-brewing-for-inspira-technologies/.

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