Koss stock is soaring over 76% from the prior close at $6. Some serious bulls are pushing the stock to skyrocket.
Koss Corp. (KOSS) is on the rise with day traders and Reddit battle pushing the shares price. KOSS stock soared as much as 145% on Jan. 25 and peaked at its 52-week high at $6 per share—at the day’s closing.
The shares price of KOSS has crossed the $10 price mark—going beyond for an unknown reason. For now, as per the tweet, the stock will push further in the open market unless it goes into the bear zone—attaining a sustainable price.
What’s happening?
Koss Corp. (KOSS) is a US-based firm that focuses on the manufacturing and designing of stereo headphones and related accessories.
Koss is one of the market leaders and has a wide range of headphone products including wireless Bluetooth headphones, wireless Bluetooth speakers, computer headsets, and various other headphones. The major source of revenue is based on the sales from its stereo headphones.
Koss’s recent surge is based on a recent tweet from portfolio manager Will Meade. Meade believes that KOSS stock is one of the targets of the users from the Reddit page. He also highlighted two other stocks in that rally which include AMC and CLVS.
The tweet said:
“What short names will the Reddit Wall Street Bets army go after next? Here are the 3 stocks with short interest above 35% and a price below $10!”
So far, KOSS stock is trading at $10.60, soaring up to a whopping 76.67%.
Similarly, on Friday, Meade tweeted Express (EXPR) to be the next GameStop—making the stock rally over 120% today.
Conclusion
The important part is that will the stock able to sustain the soaring price mark during the remaining week. And, when will the bears arrive back?
It will depend upon how long the influence of Reddit users keep the stock on the bull line. Whereas, the traders keep getting their benefit from the stock push.
Talking about the market aspect for KOSS, the business headsets market is expected to grow at 11.95% between 2020 to 2027. KOSS is a major shareholder in the market and the growth in demand will bring more sales for the company.
In the prior quarter, Koss Corp. (KOSS) was slightly on the lower side compared to last year’s results. However, with business opportunities expected to improve in the Biden era, Koss holds the potential to have a decent flight in the long-term. Though, the recent boom in KOSS stock will come back to its real price after the investors bull slows down.
