Insignia Systems Inc (NASDAQ:ISIG) is soaring on abnormally-high volume Tuesday morning as traders circulate a social media post highlighting the stock's short squeeze potential.
Insignia Systems' average session volume over a 100-day period is about 3.7 million, according to data from Benzinga Pro. Tuesday's trading volume has already exceeded 14 million at publication time.
The social media post points to the high short interest in the stock. However, according to Benzinga Pro, the total float is 1.144 million and the short float is about 21,700, representing around 2% of the total float.
The stock is trending across multiple social media platforms, but the aforementioned post in the Subreddit r/Shortsqueeze seems to be gaining the most traction.
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Insignia Systems offers in-store and digital advertising solutions to consumer-packaged goods manufacturers, retailers, shopper marketing agencies and brokerages.
ISIG Price Action: Insignia Systems has traded as high as $35.50 and as low as 82 cents over a 52-week period.
The stock was up 67.80% at $19.37 at time of publication.
