Today more bullish sentiment is helping the stock market go up today as the S&P 500 gapped up on the opening bell. Animal spirits are alive and traders are looking for hot small cap stocks to trade on the US OTC. On that exchange it is shares of Victory Square Technologies Inc. (OTCMKTS: VSQTF) that are soaring so far this morning up over 187% to make the list of the top gaining individual stocks for the day. Take a look at the chart.
The company put out a press release earlier this morning before the stock market opened up that its Victory Square Health subsidiary division “was granted permission by the Food & Drug Administration (FDA) in the United States to commence marketing, sales and distribution under the emergency use authorization (EUA) for its Safetest Covid-19 assay for detecting the virus causing Covid-19. Safetest Covid-19 IgG /IgM has demonstrated to the U.S. FDA 93.5% sensitivity and 98.7% specificity.”
Victory Square itself is a company that builds, acquires, and invests in startups. It’s Victory Square Health division puts it smack into one of the memes of the day that draws the attention of small cap traders. The company only has a market cap of less than $9 million so it is a small operation in the world of VC capital and startups. Nonetheless many traders on twitter are talking about it thanks to the stock action.
Mr. @timothysykes bought 1000 shares of $VSQTF at 0.16. 500 @ 0.21, 250 @ 0.23, 150 @ 0.28, and 100 @ .30. Thank you @tbohen @Jackaroo_Trades @kroyrunner89 for your youtube videos. Great start to the morning.— Toine (@Adr53066187) August 25, 2020
I have no position in this stock and am not trading it. Neither is Mike Swanson who is the head editor of this website. Before the opening bell he sends out a free email going over what is watching for the day with stock trading ideas. You can get this stock trading update for free by clicking here to subscribe.