Insignia Systems Inc. (NASDAQ: ISIG), the heavily shorted stock, has been surging lately. Such stocks seem good investment opportunities for short-term investors – but with increased risk. Its share price gained by more than 8% in today’s trading session.
The stock traded at $21.77 (up 1.65 points), gaining by 8.20% at 2:20 p.m. ET. The market capitalization stood at $38.2 million. The share volume traded by then was 2,713,149. This surge has again relieved its investors who were concerned when the stock dropped earlier this week.
Earlier, ISIG stock had lost about 22.5% (down 5.19 points) since December 31, 2021 to January 4, 2022. The stock had closed at $23.08 last week and on the share prices dipped shares closed at $17.89 on January 4, 2022. Moreover, the shares surged by 188.5% from the beginning of the year 2021 till the end. The stock closed at $8 on January 8, 2021 and closed at $23.08 on the last day of the year.
The month of December was a boon for the stock. On December 28, 2021 as traders disseminated a social media post about a potential short squeeze, ISIG shares surged up 91% to $22.02. During pre-market hours, Insignia stock reached a high of $20.23. The promotional and advertising media for consumer packaged goods began trading at $16.00, up 38% from the previous day’s close of $11.54. The retailer and consumer packaged goods marketing corporation has a market valuation of $34.63 million.
On December 7, 2021, Insignia stock was up over 166% on high activity. Its stock was trading at $15.05 at one point. However, it dipped in the New Year. The company’s stock prices skyrocketed by about 130% in the last week of December 2021. However, it was much less than a 319% surge in the first week of the month and a few days after that.
61.64% of ISIG’s float is currently shorted with 0 Shares remaining to borrow (at the time of writing). The current borrowing fee is a whopping 479.8%.