CATB Stock Price And News: Catabasis Pharmaceuticals Inc rally is not over, short-squeeze eyed
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UNLOCK OFFER- NASDAQ: CATB has surged by 28.22% on Wednesday, hitting a new 2020 high.
- Premarket trading indicates another double-digit rally for Catabasis Pharmaceuticals Inc.
- Some suspect a short-squeeze may be in play.
- Fundamental developments needed to provide a long-term move.
A leap of some 50% in a span of two days – an impressive feat for a stock that has no news to back the surge. What is going on with Catabasis Pharmaceuticals Inc (NASDAQ: CATB)?
One theory surrounding the leap is that short-sellers have given up on their positions, allowing the surge. Covering these positions triggered caused some buying, which was later seized by others who jumped on the bandwagon. Fear Of Missing Out (FOMO) has been one of 2020's main themes in stock markets.
Another speculation comes from rises in Catabasis' peers. Auris Medical Holding Ltd (NASDAQ: EARS), nearly quintupled earlier this week. The surge in EARS was prompted by a coronavirus-related announcement, giving it a genuine reason to rise. Are speculators looking for the next pharmaceutical wonder? Small pharmaceutical firms can jump rapidly on any announcement these days.
Zooming out of recent market moves, it would take a material announcement from the firm, such as on its Edasalonexent novel oral investigational drug for Duchenne muscular dystrophy or its CAT-5571 medication for cystic fibrosis and mycobacterium tuberculosis to make CATB a longer-term investment.
CATB stock price
NASDAQ: CATB has been on an uptrend since mid-November when it traded below $1.40. Shares of the Boston-based pharmaceutical company advanced gradually to just above $1.60 before surging to close at $2.09 on Monday, a 28.22% leap.
The rally is set to continue, with Thursday's pre-market session pointing to another jump of over 13% to $2.38. It is essential to note that trading volume has leaped in recent days, giving the increase a dose of credibility despite the lack of any material development.
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- NASDAQ: CATB has surged by 28.22% on Wednesday, hitting a new 2020 high.
- Premarket trading indicates another double-digit rally for Catabasis Pharmaceuticals Inc.
- Some suspect a short-squeeze may be in play.
- Fundamental developments needed to provide a long-term move.
A leap of some 50% in a span of two days – an impressive feat for a stock that has no news to back the surge. What is going on with Catabasis Pharmaceuticals Inc (NASDAQ: CATB)?
One theory surrounding the leap is that short-sellers have given up on their positions, allowing the surge. Covering these positions triggered caused some buying, which was later seized by others who jumped on the bandwagon. Fear Of Missing Out (FOMO) has been one of 2020's main themes in stock markets.
Another speculation comes from rises in Catabasis' peers. Auris Medical Holding Ltd (NASDAQ: EARS), nearly quintupled earlier this week. The surge in EARS was prompted by a coronavirus-related announcement, giving it a genuine reason to rise. Are speculators looking for the next pharmaceutical wonder? Small pharmaceutical firms can jump rapidly on any announcement these days.
Zooming out of recent market moves, it would take a material announcement from the firm, such as on its Edasalonexent novel oral investigational drug for Duchenne muscular dystrophy or its CAT-5571 medication for cystic fibrosis and mycobacterium tuberculosis to make CATB a longer-term investment.
CATB stock price
NASDAQ: CATB has been on an uptrend since mid-November when it traded below $1.40. Shares of the Boston-based pharmaceutical company advanced gradually to just above $1.60 before surging to close at $2.09 on Monday, a 28.22% leap.
The rally is set to continue, with Thursday's pre-market session pointing to another jump of over 13% to $2.38. It is essential to note that trading volume has leaped in recent days, giving the increase a dose of credibility despite the lack of any material development.
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