ISIG stock soared more than 20% in pre-market trading on December 30, 2021. This appears to be a low float pump on no news. Does somebody know something on the inside that was leaked to the public?
ISIG stock had a high level of short interest and so a short squeeze is ongoing. The stock has 61% of the float short although this is a low float stock.
Insignia Systems up another 26% amid increase in StockTwits message volume
The Fly reports that shares of Insignia Systems are up another 26% around $29 per share in pre-market trading following yesterday’s gains of 21%. The stock is the highest trending name on StockTwits in terms of message volume over the past 24 hours.
Insignia Systems, Inc. Announces Review of Strategic Alternatives
On December 6, 2021, Insignia Systems, Inc. (NASDAQ:ISIG) announced the commencement of a formal process to explore strategic options to maximize shareholder value. Potential strategic alternatives that may be evaluated include, but are not limited to, an acquisition, merger, business combination, in-licensing, or other strategic transaction. There can be no assurance that this process will result in any transaction. Insignia has not set a timetable for the completion of this review process and does not intend to comment further unless or until the Board of Directors has approved a definitive course of action or it is determined that other disclosure is appropriate.
Chardan has been engaged to act as Insignia Systems’ strategic financial advisor to assist the Company in this review process.
Insignia Systems, Inc. sells product solutions ranging from in-store to digital advertising. Consumer-packaged goods (CPG) manufacturers and retailers across the country rely on our deep expertise in the dynamic retail environment to provide a full suite of shopper engagement solutions.
📽 Insignia Systems Stock Price ($ISIG): More Room to Run?! [High Short Interest]
📈 ISIG Stock Technical Analysis
The long-term trend is positive and the short-term trend is neutral. The long-term trend may just continue or reversal may be around the corner. ISIG is one of the better-performing stocks in the Media industry, it outperforms 98% of 93 stocks in the same industry. Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up. ISIG is currently trading in the middle of its 52-week range. The S&P500 Index however is currently trading near new highs, so ISIG is lagging the market. Although ISIG has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when ISIG stock consolidates and is a good long entry.