Why Alpha Tau Medical Stock Skyrocketed Today

Shares of Alpha Tau Medical (NASDAQ: DRTS) were skyrocketing 23.9% as of 3:26 p.m. ET on Thursday. Trading of the stock was even halted temporarily as part of the market "circuit-breaker" triggers.

The company didn't announce any news, however. Today's move appears to be a continuation of the surge on Wednesday of 17%. That gain didn't have any clear catalysts, either. Instead, investors are piling into the stock seemingly based on nothing but the anticipation that it's headed even higher.

Alpha Tau Medical's shares have been highly volatile since it went public earlier this month following a merger with special purpose acquisition company (SPAC) Healthcare Capital Corp. The company is developing an alpha-radiation cancer therapy called Alpha DaRT.

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Source Fool.com