On an otherwise slow Friday, machine learning specialist BullFrog AI (NASDAQ:BFRG) got a head start to the weekend with an outstanding performance. Specifically, BFRG stock closed up by more than 20% today. Interestingly, a TV segment highlighting the tech enterprise may fuel ongoing bullish speculation around the company.
According to a press release, RedChip Companies will air interviews with both BullFrog and Alarum Technologies (NASDAQ:ALAR) on “The RedChip Money Report” tomorrow at 7:00 pm Eastern. Per the release, Bloomberg TV is available in an estimated 73 million homes across the United States. The program in question focuses on “insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies.”
Generally, a media spotlight on a TV program shouldn’t generate that much fanfare. However, BFRG stock can use all the attention it can get. Having launched an initial public offering (IPO) in February this year, BullFrog only carries a market capitalization of $40 million. That means it qualifies as a nano-cap company, or an enterprise with a market cap under $50 million. Any eyeballs paying attention to the artificial intelligence (AI) firm will represent a massive win.
Speculation Undergirds BFRG Stock
Another reason why the media spotlight appears to be so beneficial for BFRG stock centers on its pull with retail traders. Currently, Fintel reports that BFRG’s short interest is only 5.16% of its float. However, its off-exchange short volume ratio stands at 52.79%.
Significantly, BFRG stock also gets a 90.80 out of 100 for the investment research platform’s “Short Squeeze Score.” Per Fintel, this score can ranges from 0 to 100, “with higher numbers indicating a higher risk of a short squeeze relative to its peers, and 50 being the average.” BullFrog AI ranks among the most-shorted securities according to Fintel. At the time of this writing, the stock is number 37 out of 250 on the platform’s Short Squeeze Leaderboard.
Adding to the speculative interest, Fintel states that, at a leading prime brokerage, the available number of BFRG shares to short is zero. To be clear, this statistic does not represent the total number of shares available for shorting, nor does it include data from all other brokers or dark pools. Nevertheless, it’s a useful indicator to gauge the contrarian trading potential of BFRG stock.
Finally, the aforementioned media spotlight could potentially drive more activity on the bullish side of the ledger, hence the spike in shares today.
Why It Matters
Although speculation may drive the near-term ebb and flow of BFRG stock, BullFrog AI is not without its fundamental merits. Recently, the company inked a worldwide license agreement with the Johns Hopkins University Applied Physics Laboratory (APL) to use patented tech powering BullFrog’s bfLEAP platform. Essentially, this partnership could help streamline the process of developing life-saving therapies and treatments.
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On the date of publication, Josh Enomoto did not hold (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.
