Allied Healthcare Products (NASDAQ:AHPI) Stock Rockets 130%: What’s Going On?

Allied Healthcare Products (NASDAQ:AHPI) stock surged 129% on Tuesday without any news. Although this no news regarding the company, it doesn’t mean this surge is without reason. Allied Healthcare has a short ratio of around 18%, and the stock has a liking among retail investors on social media. The two reasons could be the trigger behind the surge.

AHPI saw heavy trading on Tuesday because of the growing attention, with 100 million shares exchanging hands relative to the stock’s daily average volume of 208,000 shares.

AHPI is a target for retail traders because of the stock’s low price, higher short interest, and lower trading volume. Although these factors are pumping the stock to take out shorts, it is likely that the price could soon drop.

The company focuses on manufacturing healthcare medical products, emphasizing respiratory therapy products, medical gas building equipment, emergency medical, and home healthcare supplies. So, in the days to come, AHPI is a stock to watch.

Market Reaction:

On Tuesday, AHPI stock soared 128.80% at $9.06 with more than 210.44 million shares, compared to its average volume of 210k shares. The stock had moved within a range of $3.90 – 11.54 after opening the trade at $3.91. Over the past 52-week, the stock has been trading within a range of $3.45 – 13.27.