Reddit army ‘biowar’ sends BioCryst up 36%
Novavax, another heavily shorted biotech, has also garnered interest across chat forums
01 February 2021 - 21:28
New York — BioCryst Pharmaceuticals blew past a five-year high as Reddit investors rallied around a call to start a “biowar” on the heavily shorted biotech firm that develops rare disease drugs.
The stock, which recently ended development on a Covid-19 drug, rallied as much as 36% on Monday after a poster on Reddit’s WallStreetBets forum called it “the most undervalued stock in the market” while another said a brewing #BioWar was “about sticking it to the shorts in a massive way”. ..
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