Petros Pharmaceuticals (NASDAQ:PTPI) Stocks take off in pre-market trading on Monday, as short-term social media talks push stocks higher.
Several traders are discuss PTPI actions to Twitter (NYSE:TWTR) with some mentioning it as short target today. This includes a few with a decent sized audience that could help get the word out with a short squeeze.
This is accompanied by a large exchange of PTPI shares as retail traders pile up in the shares of the company. As of this writing, over 14 million shares have changed hands. This is more than double the average daily trading volume of the company of roughly 6.6 million shares.
Of course, that doesn’t mean traders will want to dive into the PTPI stock. We know this short squeeze cannot last forever. In the end, there is a good chance that some investors will keep the bag.
That’s the danger that comes with investing in penny stocks like PTPI. Its low price of just over $ 2 per share makes it easy to handle. The company also only has a market capitalization of $ 27.484 million. These are two factors to watch out for when a stock starts to go up without news.
PTPI stock was up 69% Monday morning, but down 52.3% year-to-date.
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
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