Aterian’s (NASDAQ:ATER) huge rally is continuing today. The company’s shares, which look to be in the midst of a short squeeze, are climbing nearly 20% in morning trading. Over just the past five trading days before today, ATER stock had soared 65%. Moreover, the company was included in Fintel’s short squeeze opportunities list this week.
As I noted in a previous column on Aterian, the company’s “main business is using artificial intelligence and other technologies to create and sell products. The company markets its own products, and acquires offerings from other firms.” Additionally, Aterian has created its own supply chain.
What’s Going on With ATER Stock?
Beyond the general short squeeze momentum, there are a few company catalysts lifting ATER stock. Earlier this week, Aterian was identified as the 166th “fastest growing” firm in “the Americas” by The Financial Times. The rankings are determined by the compound annual growth rate of companies between 2017 and 2020.
On April 1, the company named Cynthia Williams — who recently became the president of Hasbro’s (NASDAQ:HAS) digital gaming division — to its board. Before taking the latter position, she was vice president and general manager of Microsoft’s (NASDAQ:MSFT) gaming ecosystem commercial team. Williams also had an 11-year stint at Amazon (NASDAQ:AMZN), where she held several managerial positions.
Research firm D.A. Davidson rates ATER stock a “buy” and has a $7 price target on the name.
On the date of publication, Larry Ramer 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.
