FTD Companies (FTD Stock Chart), believe it or not, is actually a penny stock. It has been for quite some time now. The company most known for its flower business used to be valued nearly 37x more than it is right now but alas, here we are: $1.11. This price is actually equal to a gain of more than 100% over the last 2 weeks.
FTD Companies (FTD) Is Coming Up Roses In May
So what caused FTD stock to skyrocket? Was there penny stock news, No. Was there some major earnings announcement, No. FTD could be a prime case of a short squeeze. With less than 20 million shares in the public float and a short ratio of 9.3, the near 2 weeks of buying volume could have been the culprit.
In addition to this, the two most recent filings show one 10-K/A, which appears to discuss certain employee compensation. The other is a bit more interesting in my opinion. It’s a 13-G that could be something to keep an eye on. Typically you would have to file one of these if you have a certain ownership amount of a company. In this case, the filing is as follows:
When shareholders accumulate more shares, enough to need to file something like this, it’s assumed that they value the company more than what the current trading prices are. Since this filing, dated April 24, 2019, shares of FTD stock have moved up significantly and with noticeable volume. Will FTD stock continue to head higher or will it wilt back below $1?