TOMI Environmental (NASDAQ:TOMZ) stock is taking off on Friday as the penny stock faces a short squeeze from investors on social media.
Several retail traders on Twitter (NYSE:TWTR) are hyping shares of TOMZ stock this morning and we’re seeing the effects. This has some 13 million shares trading, as compared to the company’s daily average of about 1.2 million shares.
Shares of TOMZ stock started off strong when markets opened on Friday. While the stock has been slipping since then, it’s still currently trading well above its closing price on Thursday. It’s possible we could see another pump take it back up today.
Even so, investors will want to be wary about jumping in on TOMZ stock today. As noted, it’s a penny stock and retail traders are taking notice of it. That means it’s a prime target for a pump and dump that could leave unfortunate investors holding the bag.
Keeping that in mind, here’s a few things potential investors in TOMZ stock need to know about the company.
- TOMI Environmental is a “bacteria decontamination and infectious disease control company.”
- The company’s main focus is its SteraMist brand of products.
- These offer “environmental solutions for indoor surface decontamination.”
- The SteraMist is “an EPA registered sole active ingredient 7.8% hydrogen peroxide-based product line that uses Binary Ionization Technology.”
- TOMI Environmental got its start in 2013 when it purchased the BIT platform from L-3 Technologies.
- Most recently, its SteraMist products have been used to combat Covid-19.
- The company’s market capitalization is $39.05 million.
TOMZ stock is up 7% as of Friday morning.
Investors looking for more stock market news today will want to keep reading!
InvestorPlace has all the news traders need to know about for Friday. That includes what’s happening with shares of Marvell Technology (NASDAQ:MRVL), Nvidia (NASDAQ:NVDA), and Didi Global (NYSE:DIDI). You can find all of that at the links below!
More Friday Stock Market News
- MRVL Stock Alert: 14 Reasons Why Marvell Technology Investors Are Feeling Marvelous Today
- NVDA Stock: 16 Things for Nvidia Investors to Know as FTC Fights Arm Mega Merger
- What Happens When a Stock Delists? 10 Things to Know About the Didi Delisting.
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
