Kiora Pharmaceuticals (NASDAQ:KPRX) stock is rocketing higher on Thursday despite a lack of news from the ophthalmic specialty pharmaceutical company.
Even without any news, shares of KPRX stock are seeing incredibly heavy trading today. As of this writing, more than 214 million shares of the company’s stock have changed hands. That’s a massive increase when compared to its daily average trading volume of about 2.7 million shares.
What’s Behind the KPRX Stock Rally?
It looks like we have retail traders on social media to thank for KPRX stock rising in price today. Investors on Twitter (NYSE:TWTR) are hyping up shares of the company’s stock today in what is likely a short squeeze.
Investors will want to be wary about taking a stake in KPRX stock today. That’s due to it only trading for about 24 cents after today’s rally and having a market cap of just $8.967 million. That easily puts it in penny stock territory. This means it’s easy for investors to manipulate the price higher and cash out before a crash.
For those investors still interested in KPRX stock, the company focuses on developing treatments for eye diseases. This has it focusing on improving the ocular health of patients and also restoring vision to those that have lost it.
KPRX stock is up 81.3% as of Thursday afternoon. However, the company’s shares are still down 80.8% since the start of the year.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the latest stock coverage traders need to know about for Thursday! Among that is why shares of GSR II Meteora Acquisition (NASDAQ:GSRM), Mullen Automotive (NASDAQ:MULN), and AMC Entertainment (NYSE:AMC) stock are in the news today. You can get all of those details from the following links!
More Thursday Stock Market News
- GSRM Stock Alert: What to Know About the Bitcoin Depot SPAC Merger News
- MULN Stock Moving on EV Partnership News
- Why Did Rep. Michael Garcia Just Sell His AMC Stock?
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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.