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MER Telemanagement Solutions (MTSL) Stock Rockets 46%: Here is Why

Pete Matthews , , , ,

There has been no news about the MER Telemanagement Solutions Ltd (NASDAQ:MTSL) stock this morning but that has not deterred investors from piling on to the stock in a big way.

The MER Telemanagement Solutions stock has soared by a staggering 80% this morning so far and it seems that the rally this morning is primarily due to the momentum in the stock that had first started the rally back on July 9. While the continuity in the momentum in the MER Telemanagement Solutions maybe good news for some investors, it should also be noted that the activities of retail investors from online platforms like Reddit are also responsible for the rally.

Many of the traders on Reddit, Discord, Twitter, StockTwits and others have started getting into the MER Telemanagement Solutions due to its low stock float. As a result, it has been identified as an opportunity for day traders and at this point, it seems that the strategy of these traders is working so far.

While it is flying on the back of speculation, it might be a good move from investors to keep the stock in their watch lists today. It might be interesting to follow if the MER Telemanagement Solutions stock can manage to hold on to its strong momentum.

Market Reaction:

As of 11:38, MTSL stock soared 49% at $7.05 with more than 52.60 million shares, compared to its average volume of 2.33 million shares. The stock had moved within a range of $6.55 – 8.94 after opening the trade at $8.18. Over the past 52-week, the stock has been trading within a range of $1.01 – 8.94.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.