Today has been seeing some lackluster action in the S&P 500 and DOW while gold stocks have continued to bounce following their Tuesday dip. Action has gravitated for small cap traders to seemingly random names. Today going into the afternoon it is shares of EWellness Healthcorp (OTCMKTS: EWLL) that are attracting massive trading volume on the US OTC market. The stock is up $22 today, but has been steadily rising for a week as you can see from this chart.
The company has a telehealth platform it markets as PHIZIO, which it said several months ago is on pace to treat more than 300,000 patients in the US and Canada in 2020. However, it is hard to find solid information on the company as it doesn’t have a website. On Twitter though many people have been attracted to the stock action today as you can see from these comments. Some of them amount to spreading rumors of the company that I cannot confirm at all.
$Ewll idc I’m chasing this one 3.5b in volume is crazy— C Fly (@Flynn3116) August 12, 2020
$EWLL It's the leader in #telehealth which is here to stay. High demand. I'm swinging until further updates from the company on their restructuring plan and new partners!! Large insurance groups and medical companies are swarming all over this could easily see a buyout— TrustYourDD (@TrustYourDD) August 13, 2020
Are ATI PT private equity holders purchasing the heck out of $EWLL shares for a big reverse merger? This would allow the bigwigs over there to get liquidity in their holdings, and make much more going public? 4.3 Billion shares traded. Just 7 hrs. 6 min. to open. pic.twitter.com/KO49t6zJ9W— Craig Severson (@craigjseverson) August 13, 2020
I have no position in this stock and neither does Michael Swanson who owns this website WallStreetWindow.com. He uses very specific trading patterns to figure out when to buy a stock and does not simply by things based on people’s tweets. You can get his morning stock market update, which often includes a stock setups he sees, for free via email. To subscribe just click here.