RMED Stock Price: Over 50% Increase Pre-Market Explanation

By Amit Chowdhry ● June 7, 2021
  • The stock price of RA Medical Systems Inc (NYSEAMERICAN: RMED) increased by over 50% pre-market. This is why it happened.

The stock price of RA Medical Systems Inc (NYSEAMERICAN: RMED) increased by over 50% pre-market. Retail investors appear to be coordinating a short squeeze on the company shares through various social media platforms.

There has been an uptick in discussions about the opportunity to short squeeze RMED through social media platforms like StockTwits, Reddit, Twitter, Facebook, and Discord. The discussions noted that RMED presents an opportunity for a short squeeze since it has a low float and that float is highly shorted. 

According to Finviz data, RMED has a float of 2.68 million shares and it has a 39.75% short percent. This is not the first time that RMED has seen a major gain in a short period of time. Between May 11 and May 12, the company stock price jumped over 18% and between February 3 and February 4, the stock price increased by over 20%. RMED was cited as a short squeeze candidate by Benzinga last week as well.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.