Overview
- Shares jumped about 36% on Monday on heavy volume despite no new filings or corporate announcements.
- Options activity was extreme, with roughly 76,000 contracts traded, a put-to-call ratio near 0.09, and implied volatility around 161.7.
- The surge reflected meme-driven buying and short covering even as major indexes declined that day.
- The rally faded Tuesday, with the stock down roughly 5% by midday as traders took profits.
- Fundamentals remain weak: Q3 revenue fell 13.3% to $70.2 million alongside a $110.7 million loss, and analysts keep a Strong Sell view with an average $0.93 price target.