BLUW - eFFector Therapeutics surges for a second day on social media buzz

eFFector Therapeutics (NASDAQ:EFTR) jumped 124% after climbing 50% yesterday on social media buzz about the recently de-spaced oncology company. The shares were being promoted on sites such as Twitter, Stocktwits and Reddit's WallStreetBets. The stock traded more than 17.6M shares, whiles its average volume is about 385,000. The move comes after Locus Walk, the SPAC that took eFFector public, surged more than 170% on Aug. 25, after the company announced that about 95% of holders redeemed their shares, meaning that the company's share count was suddenly reduced from 17m shares to over 500K as holders took their shares back. There were many investors that were short the shares going into the vote, creating a short squeeze because 17M shares just vanished, CNBC's David Faber said at the time. Also see, Blue Water Acquisition (NASDAQ:BLUW) goes negative in wake of shareholder vote, short squeeze

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eFFector Therapeutics surges for a second day on social media buzz