What's Going On With INVO BioScience Stock?
Portfolio Pulse from Erica Kollmann
INVO BioScience, Inc. (NASDAQ:INVO) stock has surged over 140% in the last month and is continuing its upward momentum, with a nearly 40% increase over the past five days. The trading volume has significantly exceeded the 100-day average, with over 16.4 million shares traded in the session. The rise comes ahead of an expected Schedule TO filing related to an exchange offer for warrants, which is part of a proposed merger with NAYA Biosciences, Inc. The stock's float is 2.444 million shares, with a high short interest of 11.82%.
November 13, 2023 | 6:18 pm
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INVO BioScience's stock is experiencing a significant rally with a 140% increase over the last month and a 40% rise in the past five days, on high trading volumes. The company is preparing for a warrant exchange offer as part of a proposed merger with NAYA Biosciences.
The sharp increase in INVO's stock price and trading volume indicates strong investor interest, likely driven by the upcoming warrant exchange offer and the proposed merger with NAYA Biosciences. The high short interest could lead to a short squeeze, further fueling the rally. However, the stock's volatility and the nature of merger-related news suggest that while the short-term impact is positive, investors should be cautious.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100