Shares of Altimmune Inc. (ALT) rose very sharply in trading over the last 24 hours. On the surface, it was alleged that the company’s shares rose due to positive news from its pipeline developments for its phase 1 and 2 research. However, the company recently completed a 1:30 reverse split, meaning that every 30 shares of the company’s stock was now converted into a single share, with market cap remaining the same. These stocks often can become prime targets for price pumps, and based on its behavior in Wednesday’s trading it became apparent that this stock was likely to go “viral”. Here’s what happened.
