TOMI Environmental (NASDAQ:TOMZ) stock is taking off on Friday as the penny stock faces a short squeeze from investors on social media.
Several retail traders on Twitter (NYSE:TWTR) are hyping shares of TOMZ stock this morning and we’re seeing the effects. This has some 13 million shares trading, as compared to the company’s daily average of about 1.2 million shares.
Shares of TOMZ stock started off strong when markets opened on Friday. While the stock has been slipping since then, it’s still currently trading well above its closing price on Thursday. It’s possible we could see another pump take it back up today.
Even so, investors will want to be wary about jumping in on TOMZ stock today. As noted, it’s a penny stock and retail traders are taking notice of it. That means it’s a prime target for a pump and dump that could leave unfortunate investors holding the bag.
Keeping that in mind, here’s a few things potential investors in TOMZ stock need to know about the company.
- TOMI Environmental is a “bacteria decontamination and infectious disease control company.”
- The company’s main focus is its SteraMist brand of products.
- These offer “environmental solutions for indoor surface decontamination.”
- The SteraMist is “an EPA registered sole active ingredient 7.8% hydrogen peroxide-based product line that uses Binary Ionization Technology.”
- TOMI Environmental got its start in 2013 when it purchased the BIT platform from L-3 Technologies.
- Most recently, its SteraMist products have been used to combat Covid-19.
- The company’s market capitalization is $39.05 million.
TOMZ stock is up 7% as of Friday morning.
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