Is SCWorx Corp (NASDAQ:WORX) Stock All Set To Hit New Highs in August?

SCWorx Corp (NASDAQ:WORX) stock surged on July 30th, 2021 as expert opined it is set for short squeeze. Former hedge fund analyst on Twitter shared his thoughts. Followed by 1600 people, Peterson’s view is behind his opinion. This includes the part that penny stock has float of just 7.4 million shares. . He added that about 58% of the shares are shorted.

Peterson says that rising lockdown talk due to delta variant is also an important factor as the company gives masks to hospitals. The masks are utilised by employees treating covid-19 patients. Furthermore, the firm is also handling data as well as software services for healthcare providers.

The company’s shares witnessed heavy trading volumes as over 27 million shares changed hands. This is a whopping jump vis-à-vis daily average trading volume of about 3.9 million shares. WORX shares were up by 8% by the afternoon of 30thJuly, 2021.

SCWorxfacilitates hospitals improve and critical system interoperability. The completion of its Item Master cleanupwill assist healthcare providers to precisely track spending and create reports.

Healthcare logistics is complex and multi-dependent system entailing high data use.  However, practices are labour intensive and much effort needs to be made for maintaining and performing analytics when identifying sourcing opportunities.