Can This Popular Reddit Stock Make You Rich?
There were few better zero-to-hero penny stocks in 2020 than that of continuous glucose monitor (CGM) manufacturer Senseonic Holdings (NYSEMKT: SENS). In July 2020, its stock was worth $0.40 cents per share. By February 2021, however, its share price shot up to over $5.50 thanks in part to Reddit-fueled speculation.
Despite a 60% plunge from highs, the company still has an impressive market cap of $907 million, considering its precarious revenue situation. Because of competition concerns, Senseonic has also attracted a dedicated base of traders betting against its success, with over 18% of the entire float sold short. Can Senseonic beat the naysayers and continue its momentum?
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Source Fool.com
