This has been a wild summer for penny stock trading. Today the Nasdaq went up again this morning with more buying in shares of Apple (NASDAQ: AAPL), but small cap stock traders are in wonder of the action in Relief Therapeutics (OTCMKTS: RLFTF), because it is up 230% so far today. The coronavirus and need for vaccines and treatments and the opportunity in a company that can potentially deliver on this need is driving investment and speculation in stocks that are positioned to be a part of this big trend. Take a look at the chart of RLFTF yourself to see the action today.
What is driving the news is results from its coronavirus treatment drug NeuroX in a trial. The CEO Jonathan Javitt said this morning that “No other antiviral agent has demonstrated rapid recovery from viral infection and demonstrated laboratory inhibition of viral replication.”
“We are conducting placebo-controlled trials to see whether the observations made in the case-control and open-label studies will be confirmed for less ill patients with COVID-19-related respiratory failure. Our independent data monitoring committee will be conducting an interim analysis of this data later this month,” he added.
This has driven a lot of interest on Twitter from stock traders as you can see from these tweets.
THIS STOCK $RLFTF SHOULD GO THRU THE ROOF ON THIS COVID NEWS!!! $nio $abev $hpe $cmcsa $iaa $amcr $c $nasdaq $bbd $mrp $kgc $uaa $ccl $gild $rexr $run $hbi $gold $cvx $hst $twtr $ino $nly $hal $gm $csco $uone $tnxp $nkla $kndi $blnk $zsan $htz $dkng $goog https://t.co/GGkvb4QWof— Chris Manhattan (@ChrisManhattan) August 3, 2020
$RLFTF On Fire 🔥— ElectTrader (@ElectTrader) August 3, 2020
I have no position in this stock. I would have bought if I had known this news and price rally was coming, but I had no way to know that. There are specific stock setups I do like to trade though. In July my top stock pick simply soared and I’m getting ready for a new one tomorrow.