25 days ago • Posted by Martin Boujol
Atlantic American Corp. surges 117%
Atlantic American Corp. surged 117% on Friday, reaching a high at $15.97, before settling down to $5.20 at the end of the trading session. Before today, the highest point of the stock was $4.83 in November 2020. No specific news seems to account for this surge, aside from the fact that the stock was talked up on Twitter. In midafternoon trading on Friday, the volume went up to 97 million shares being traded, vs. a usual 29'000. 74% of the company is owned by insiders or individual investors. Could it be yet again a short squeeze case?
Source: Wall Street Journal, Seeking Alpha