Data Storage (NASDAQ:DTST) shares are running higher on Wednesday as the company gains meme stock status with retail traders on social media.
Retail traders often target cheap stocks for their low entry points. They gather together on places like Reddit, Twitter (NYSE:TWTR), and private Discord servers to plan out pumps of stocks. Oftentimes, this sees them going after companies with short-squeeze potential.
There’s loads of chatter about DTST stock on Twitter today, which backs up the idea it’s been targeted by retail traders. Investors looking to get into the stock will want to be wary as it’s already falling from its high today and might continue to do so now that the pump is over with.
Even so, we’ve got all the details potential investors need to know about Data Storage below.
- Data Storage is an infrastructure as a service company that works with multiple tech companies.
- That includes the likes of IBM (NYSE:IBM), Dell (NYSE:DELL), VMware (NYSE:VMW), and others.
- Its specific focus is on “data recovery and business continuity services.”
- These services allow it to help companies “protect their data, minimize downtime and recover and restore data within their objectives.”
- Its headquarters is located in Melville, N.Y.
- The company is run by Charles M. Piluso, who serves as its CEO, CFO, and chairman of the Board.
DTST stock is seeing heavy trading today with the interest from retail traders. As of this writing, more than 39 million shares have been traded. For comparison, the stock’s daily average trading volume is only about 185,000 shares.
DTST stock was up 33.9% as of Wednesday afternoon.
We’ve got loads of other stock news for today to check out below!
InvestorPlace has the stock market covered with its daily content. A few examples of what to look into today includes the latest news on Jaguar Health (NASDAQ:JAGX), Dare Bioscience (NASDAQ:DARE), and Newegg (NASDAQ:NEGG) shares. You can learn more about that at the following links.
More Wednesday Stock Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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