"House of Pinchers"

[wadirum1]

Chart showing SURG ADX-PPO pincher and the key 10-day MA.

https://stockcharts.com/h-sc/ui?s=SURG&p=D&b=5&g=0&id=p87509854980

This was a ridiculous plunge to begin with. People freaked out when there was a reverse split so the company could uplist to NASDAQ. The company also converted some preferred shares to commons and they raised some capital at $4.30. Now, down at $2.44 they are on NASDAQ, have a clean share structure, and a ton of cash in the bank. And there are warrant holders who have a $20M incentive to get the price back up to $6.

And it doesn't hurt that Deloitte just named them the 50th fastest growing company in the US.

Now, I think the chart shows a stock that is starting to recover from some nonsense selling by longs who are distraught over the reverse split. There was also a lot of mayhem associated with a group that promoted the daylights out of it and then dumped (the volume on that one day was 18X the float). If SURG can make a convincing move above its 10-day MA, I think it is going substantially higher.