RA Medical (NYSEAMERICAN:RMED) stock is rocketing higher on Monday as retail traders seek out their next target to send soaring.
Investors in meme stocks such as AMC Entertainment (NYSE:AMC) are always looking for their next big investment. That’s usually a stock that has strong short squeeze potential. Now it looks like they’ve latched on to RMED stock.
We’re already seeing massive movement from the stock today in early morning trading. That includes more than 53 million shares changing hands as of this writing. This is a major jump compared to its daily average trading volume of roughly 2.8 million shares.
So why are retail investors so interested in RMED stock? Let’s take a look at what the company is all about below.
- RA Medical is a company that develops advanced excimer laser systems.
- These tools are used in the treatment of vascular and dermatological diseases.
- The company offers up its products in two lines.
- The first is DABRA, which is its minimally-invasive excimer laser and disposable catheter system used in vascular treatments.
- Its second is Pharos, which is used in treating dermatological diseases.
- Ra Medical Systems was founded in 2004 and was incorporated that same year in California.
- However, it was later reincorporated in Delaware in 2018.
- It started out with the launch of its Pharos product line in 2004 before launching DABRA in 2016.
RMED stock was up 58.2% as of Monday morning but is only up 9.3% since the start of the year.
News of retail investors rallying meme stocks continues below.
There are loads of meme stocks on the rise today and Redditors go wild. That includes some of the biggest stocks climbing, as well as other recent information investors should be aware of. You can check all of that out at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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