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The stock shot up 50% at the opening bell and ended the day up 19.5%. There wasn’t any major news regarding the company, which means it was a classic short squeeze. The company has a short volume ratio of 36% and a low price, making it easy for investors to buy up shares to try to push out hedge funds trying to short it. The stock is highly volatile, evidenced by its 15% fall today, and is currently rated a Sell in our POWR Ratings system.
While WORX may not be the best software stock for investors right now, there are quite a few highly ranked in our POWR Ratings system. Salesforce.com Inc. (NYSE:CRM), Workday, Inc. (WDAY), and Cadence Design Systems, Inc. (CDNS) are all ranked Buy and have numerous growth catalysts that should help push their prices higher in the months ahead.
