BSQUARE (NASDAQ:BSQR) saw massive gains on Tuesday, with the stock soaring 77% as retail investors in Twitter pushed the stock higher. The interest in BSQR saw the stock rack the massive gains with over 79 million shares changing hands which is more than its daily average volume of around 5.4 million shares. Retail traders were looking to leverage BSQR’s short squeeze. As a result, retail investors have been taking to social media platforms to go after short squeezes.
However, it is essential to note that BSQR is in the penny stock territory, and thus investors should be wary regarding going for the stock. This is because most penny stocks are easily manipulated, leading to dumps and pumps that can leave investors counting losses. Nevertheless, BSQR I has gained over 325% year to date at the back of the latest surge.
If the social media activity continues to push the stock, then BSQR is one of the penny stocks to keep an eye on in the coming days.
Market Reaction:
On Tuesday, BSQR stock skyrocketed 77% at $7.05 with more than 202.79 million shares, compared to its average volume of 5.43 million shares. The stock had moved within a range of $4.79 – 7.65 after opening the trade at $5.16. Over the past 52-week, the stock has been trading within a range of $1.10 – 11.83.
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