Is Now the Time to Buy Inovio Stock?
When investors learn about companies developing life-saving coronavirus vaccines, they usually feel a sense of hope and enthusiasm. But that's not the case with Inovio Pharmaceuticals (NASDAQ: INO). Even though it's the first company attempting to develop a DNA-based coronavirus vaccine, Inovio stands out among other vaccine drugmakers. Nearly 28% of its outstanding shares are sold short.
Due to its rather unusual trading activity, the stock has attracted the attention of communities of contrarian traders. Many of them originated from the r/WallStreetBets subreddit and took part in a massive short squeeze on GameStop (NYSE: GME) that delivered multi-ten-bagger returns in a very short period of time. Could Inovio also witness a short squeeze, becoming the new GameStop?
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Source Fool.com
