The company’s ticker surged to the top of trending lists on Stocktwits and r/WallStreetBets by Wednesday morning. Data from Vanda Research indicates retail buying reached $2.2 million this week, a sharp contrast to the $109,600 recorded during the previous period. This buying spree hit a stock already struggling with a 24.9% decline year-to-date and persistent sales pressure, despite recent leadership changes including the appointment of a new CEO and finance chief.

With 34% of the free float currently sold short, market analysts are watching for a potential squeeze. ORTEX co-founder Peter Hillerberg noted that while the stock is primed for such a move, most short sellers have not yet been forced to cover their positions. If the rally sustains, however, the $45 million in current paper losses facing bearish investors could escalate rapidly. Trading volume reflects this intensity, with $136 million in shares changing hands by 8:24 a.m. ET—nearly double the stock's one-year average.