Shares of Aethlon Medical (AEMD) surged on Wednesday after the Reddit investing community focused on a medical-technology company’s equipment that demonstrated good outcomes for two COVID-19 patients.
That social-media debate drove roughly 73 million shares to change hands lately on a stock with a float of roughly 11.9 million shares.
This stock just went from averaging $1.40 with a half a million trades to 11 million trades at $9.00 — to the moon!u/insanenomad
According to a June 3 press release, the company’s Hemopurifier cartridge is meant to filter viruses and exosomes from blood.
The gadget was utilized to treat two COVID-19 patients who were seriously unwell. According to the business, they improved while using the gadget.
The gadget has been recognized as a breakthrough device by the US Food and Drug Administration for treating patients with advanced or metastatic cancer.
The gadget is now undergoing an early feasibility investigation by the FDA. This allows the corporation to collaborate directly with the device’s sponsors and FDA review teams.
Stocks that have been picked up on social media platforms like Reddit have witnessed rapid changes as a result of small investor trading.