Raptor Pharmaceutical Corp. (NASDAQ: RPTP)
Today hasn’t been the best day in the market overall. As a matter of fact, this entire week has brought a sea of red to US markets. However, there are some stocks that are doing relatively well. For example, Raptor Pharmaceutical Corp. stock is rallying today.
RPTP Gains On Strong Volume
According to NASDAQ, RPTP has an average 50 day volume of 1,244,768 shares. However, today so far (1:51) the stock has traded hands 2,141,323 times. As a result, the stock is currently trading at $14.77 per share after a gain of 6.49% so far today.
Can We Expect To See More Gains From RPTP?
Unfortunately, I don’t have a bullish opinion of this stock. While we are seeing strong gains today, these gains aren’t likely to last. The reality is that yesterday Oppenheimer downgraded the stock; leading to massive declines throughout the day. Keeping in mind that price movements in the market tend to be a series of overreactions, it makes sense that we would see gains from Raptor Pharmaceutical Corp today. The stock fell in a big way yesterday; and today’s gains were simply a positive correction. Nonetheless, I’m expecting to see losses from the stock throughout at least the rest of the week.
What Do You Think?
Where do you think RPTP is headed and why? Let us know in the comments below!