- The shares were being promoted on sites such as Twitter and Stocktwits. The stock traded more than 17.6M shares, whiles its average volume is about 385,000.
- The move comes after Locus Walk, the SPAC that took eFFector public, surged more than 170% on Aug. 25, after the company announced that about 95% of holders redeemed their shares, meaning that the company's share count was suddenly reduced from 17m shares to over 500K as holders took their shares back.
- There were many investors that were short the shares going into the vote, creating a short squeeze because 17M shares just vanished, CNBC's David Faber said at the time.
Read Full Story: https://seekingalpha.com/news/3738038-effector-therapeutics-surges-for-a-second-day-on-social-media-buzz
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