On Thursday many stocks went down in one of the biggest falls for Wall Street. Almost all stocks (with the exception of SSFT) were down and dirty including SuperCom Ltd. (NASDAQ: SPCB) stock.
In last trading session, SuperCom Ltd. (NASDAQ:SPCB) saw 2,340,100 shares changing hands which is below the average. Company’s recent per share price level of $1.79 trading at -$0.34 or -15.96% at ring of the bell on the day assigns it a market valuation of $32.56 Million. That closing price of SPCB’s stock is an increase of 300% from the starting price in January.
But after the the ring and in pre-market on Friday, SPCB stock is up almost 23%.
I searched everything and did not manage to find a reasoning for this price increase besides speculation and hope. If you invested in January you are in a big plus but getting in now is a pure speculation.
$SPCB in at $2.26 for a ride to $2.50— tompres1031 (@tompres1031) June 11, 2020
With such a low volume everything is possible but have in mind that Supercom got its last contract on June 4 , when they secured a 5-year contract with the national government of Latvia. Following this contract shares went up more than 100% so this is already priced in.