Shares of Orbsat Corp (NASDAQ:OSAT), engaged in mobile satellite services business, surged by 80% today. Many companies have moved towards OSAT for high growth opportunities. Retail investors have much affinity towards OSAT having seen significant interest lately. In fact, OSAT is a highly mentioned stock on various social media platforms in last 3 days.
Retail investors are placing bets on the stock as a likely short-squeeze candidate but it is yet to seen on what it will translate to.
Investors need to be aware that Orbsat is providing mobile satellite solutions to corporations as well as governments in addition to strategic military users. It also addresses individual users. The company’s platforms permit users to stay connected even in the remotest of environments. OSAT solutions ensure high speed data applications as well as voice communications. The company in June had declared bringing onboard a new CEO and President.
Furthermore, it raised $14 million through equity earlier in the month with an average price of $5 per unit, which was premium to its stock price at that time. The current investor interest in its shares demonstrates that it may be undervalued as retail investors hope of a short-squeeze. Investors need to know the various details however of the high-profile and high-growth market that the company is engaged in.
Market Reaction:
On Tuesday, OSAT stock soared 54.41% at $8.40 with more than 86.63 million shares, compared to its average volume of 380K shares. The stock had moved within a range of $8.00 – 10.80 after opening the trade at $8.95. Over the past 52-week, the stock has been trading within a range of $1.90 – 10.80. Moreover, the stock is up another 15% to $9.66 in the pre-market session.
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