Rewalk Robotics Ltd (NASDAQ: RWLK) stock rallied 42.3%, driven by significant buying pressure from retail investors despite not making important announcements recently.
While the overall short interest in Rewalk stock is minimal at just 226,800 shares, having shrunk 53.37% from the previous 486,400 total short interest, some retail traders are treating today’s rally as a short squeeze.
The buying pressure has risen significantly given the large float of shares that have changed hands today, with the total volume traded at the time of writing hovering around 10 million shares.
We could be looking at the next Gamestop here, except for the low short interest this time around. However, Rewalk’s low stock price places it firmly within reach of retail investors who could push it much higher.
The last major announcement from the robotics company was the release of its Q2 earnings report, where it generated revenues worth $1.4 million.
The firm attributed its performance to the reopening of markets, which allowed more individuals to trial its products from the long waiting list that had piled up during the pandemic lockdown period.
Larry Jasinski, ReWalk's CEO, said: “Our focus on achieving broader coverage in Europe and the United States has also been encouraging. We are expanding our resources in order to achieve these goals and to have a market-leading and experienced team for implementation as they occur.”
Rewalk also appointed Jeannine Lynch as the new Vie president in charge of strategy and market access in early August, but she was slated to join the company on August 31, 2021, which she did.
Lynch will be tasked with building and implementing ReWalk’s market access and reimbursement programs.
*This is not investment advice.
Rewalk Robotics stock price.
Rewalk Robotics stock rallied 42.3% to trade at $1.85, rising from Monday’s closing price of $1.30.
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