The home appliance company’s shares snagged nearly the highest possible sentiment reading on Stocktwits.
Shares of Emerson Radio, one of the oldest consumer electronics manufacturers in the U.S., rose 20% in after-market trading on Wednesday after a sharp rally in recent sessions, piquing the interest of retail investors.
The MSN stock rose 65% in the previous two sessions to close at its highest level in over three years, without an apparent catalyst. The company is listed on the NYSE American, a platform for trading shares of small- and micro-cap companies operated by NYSE, and had a market cap of $15.7 million as of Wednesday.
On Stocktwits, retail sentiment for the stock shifted to nearly the highest possible level, ‘extremely bullish’ (98/100) as of early Thursday, up from ‘neutral’ two days prior. Over the past 24 hours, the message volume for the ticker increased by 278%, while the number of watchers on Stocktwits jumped by 18%.
Several users reported buying shares, adding the stock to their watchlists, and forecasting a price level of $2 or more in the coming days.
“$MSN Anything below $1 is a buy here,” said one user.
New Jersey-based Emerson Radio produces and sells a range of home appliances, including microwave ovens, refrigerators, fans, clock radios, Bluetooth speakers, and televisions.
Year-to-date, the company’s shares have gained 77.4%.
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