Is Oriental Rise Stock (ORIS) the Target of a Meme Rally?
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ORIS is a penny stock, which makes it incredibly vulnerable to market volatility, and there's plenty of that to go around with the trade war between the U.S. and China. With that in mind, it's possible that meme traders have latched onto Oriental Rise as a company to pump and dump.
Evidence of this includes the lack of news and extreme movement today. While this could be a short squeeze, Oriental Rise has a fairly low short interest ratio at 1.92%. This makes it likely that the stock has rallied on meme interest, meaning the shares could suddenly give up their gains from today. That could see some unfortunate investors left holding the bag.
Oriental Rise Stock Movement Today
Oriental Rise stock was up 96.56% in pre-market trading on Friday, following a 3.12% decrease yesterday. The company's shares have also fallen 94.11% year-to-date and 98.84% over the past 12 months. With today's movement came heavy trading, as some 394 million shares changed hands, compared to a three-month daily average of about 14.84 million units.
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