Carisma Therapeutics (CARM) stock underwent a massive rally on Tuesday despite a lack of news from the biopharmaceutical company. This may have investors wondering what’s going on with CARM stock today.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
It appears that Carisma Therapeutics stock saw a “sucker’s rally” or “dead cat bounce” today. This is when a stock that has suffered strong negative momentum undergoes an unexpected rally. While that might see some traders take interest in CARM stock, they should first note that the company is considering strategic alternatives, including the potential wind-down of its operations.
CARM stock was up 247.71% during pre-market trading on Tuesday. However, the stock has dropped 46% year-to-date and 81.71% over the past 12 months.
Is Carisma Therapeutics Stock a Buy, Sell, or Hold?
Spark, TipRanks’ AI analyst, rates Carisma Therapeutics stock an Underperform (40) with no price target. The company faces “significant financial challenges, as evidenced by its poor financial performance and valuation metrics.”
