Shares of InspireMD Inc (NYSEAMERICAN: NSPR) shot up 24% on Wednesday fueled by a couple of prominent Twitter accounts leading the surge towards the moon…or a deep narrow gorge, future will tell.
$NSPR they aren’t done. This is going to explode tomorrow.— StanTheTradingMan (@StanTradingMan) June 9, 2020
But what is NSPR stock about? Headquartered in Israel “InspireMD intends to pursue applications of its MicroNet technology in coronary/carotid procedures. “. That was according to their short Twitter bio. Some 20 hours ago, just when the rally started InsipreMD released a press release saying that 12-month PARADIGM trial results have been published and how all is swell with their mesh carotid stent:
Our present work indicates that an effective MicroNET™-covered stent protection against post-procedural neurologic events extends at least mid-term in the absence of any procedure- or device-related issues,Dr. Piotr Musialek, co-author of the paper and lead investigator of the PARADIGM study.
Someone probably invested heavily and came back asking for more rallies.
I say give NSPR stock some time and it will go up, what goes down must go up, or was it vice versa?
$NSPR to everyone 24% in a day doesn’t seem enough!? Many seem disappointed but give it some time and it will move up! We went from 0.39 to 50’s and today 0.68. That’s pretty damn good to me! Let’s see 80’s in the next two days. Are you in?— Sofiane (@sbcorpcom) June 10, 2020
The problem with NSPR and similar stocks is that you cannot keep the momentum on Twitter chatter. You can build up the surge and then everything calms down once weak hands realize they did not get rich in a day or two.
With a volume of 52,027,402, which is 8 times bigger than average volume for NSPR, shares saw a not that big rally of 20%-ish . If the volume goes down today, the share price will meet reduced expectations.
We will make money on $nspr when all these day trading wanna be’s get out. Impossible to drive this up when people are selling after they make 4% looks like back to the .50’s tomorrow. Re-load time.— Ross David (@djrozay_06) June 10, 2020
Maybe InspireMD is laying the groundwork for improved profitability in the second half of the year but this is another story, for people that like to keep their shares longer. Not a day trader story.
P.S. Let us not forget Dave Portnoy.