PainReform (NASDAQ:PRFX) stock is on the move Monday with heavy trading despite a lack of news coming from the medical device company.
Instead, it looks like traders on social media have found the penny stock and are pushing it higher today. That’s something that’s been happening more and more lately as traders use Reddit, Twitter (NYSE:TWTR), and private Discord servers to plan pump and dumps.
In fact, we’ve already seen some 15 million shares of PRFX stock change hands today. That’s a massive surge next to its daily average trading volume of about 267,000 shares.
So what does that mean for potential PRFX stock traders today? Be wary about any investment in the company. Shares spiked this morning before taking a fall and are currently down from yesterday’s close. That just goes to show how volatile penny stocks can be.
Keeping that in mind, here’s a few things traders need to know about PRFX stock.
- PainReform is a clinical-stage specialty pharmaceutical company.
- Its focus is on developing its proprietary drug delivery system to extend the period of post-surgical pain relief without additional doses.
- The company hopes this will cut down on the need for opiates.
- PRF-110 is one of its options.
- It’s a clear oil-based solution put directly into the wound.
- The treatment can provide localized and extended post-operative analgesia.
- PRFX is fairly new to the public market after going public in an IPO last September.
- Its current market capitalization is $23.427 million.
PRFX stock is down 3.9% as of Monday morning.
There’s more stock market news for investors to dive into below!
InvestorPlace offers daily coverage of the stock market and today is no different. A few examples from today include what has shares of iSpecimen (NASDAQ:ISPC), AMC Entertainment (NYSE:AMC), and Vonage (NASDAQ:VG) on the rise today. You can get all those details from the following links!
More Monday Stock Market News
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
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