BTX Stock: Here’s Why Brooklyn ImmunoTherapeutics Is Up

Brooklyn ImmunoTherapeutics (NYSEAMERICAN: BTX) is screaming for the top in the market this morning, following up on the strong gains seen out of the stock yesterday. With no news, either by way of press release, or SEC filing, many are wondering what the reason for the move is. 

Ultimately, it seems to be a concerted effort by retail investors to push the stock up, and given an ultra-tiny float, these investors are becoming very successful. Here’s what’s going on:

Retail Investors Push Brooklyn ImmunoTherapeutics To The Top

As mentioned above, if you’re looking for a press release or SEC filing that explains why the stock is making a run for the top, you’ll be hard pressed. There’s nothing out there. 

Nonetheless, over the past few months, retail investors have made their abilities clear. When individual investors band together to buy shares, they have the ability to make extreme gains take place, and that seems to be exactly what’s going on here. 

Many on the Wall Street Bets Reddit, the same group of people that sent GameStop and others to the top in the Big Short Squeeze, has been talking about going after biotechnology stocks that hedge funds short or that have seriously low floats. 

Well, BTX hits both of those nails on the head. Before the recent merger that turned the company into Brooklyn ImmunoTherapeutics, NTN BuzzTime was a heavily shorted stock. Now, post merger, the public float of the company only consists of 1.12 million shares. 

Wow, what an opportunity. 

A stock with such a small float is easy to get moving, and it seems as though retail investors are jumping in. As demand climbs for a stock with a low float, or short supply of shares, the law of supply and demand kicks in, leading the stock for the top. That’s exactly what’s happening today. 

The Gains Could Go Far Further

All in all, we may be seeing nothing more than the tip of the iceberg at the moment. Think about it, any stock with under 15 million shares is thought to have an ultra-low float, and therefore, be relatively easy to push for the top when volume starts to pour in. 

We’re not talking about a stock with a 15 million share float, we’re talking about a stock with a 1 million share float. That’s a huge difference, and as retail investors continue to pile in, that huge difference could equate to an even more dramatic run for the top. 

The Bottom Line

The bottom line here is simple. If you’re looking for a strong opportunity to trade today, you’re not going to want to look past BTX stock. With such a small float, and short interest being high in the company prior to the merger (there’s not enough data following the merger, but shorts are likely still all over it), there’s massive potential for dramatic gains in the near term here.  

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