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- AeroClean Technologies (NASDAQ:AERC) rose nearly 25% intraday Friday as the air-filtering firm built on a roughly 700% pop the company enjoyed in its first post-IPO session Wednesday despite reporting zero revenues.
- AERC soared as much as 24.1% to $98 Friday before pulling back to change hands at $80.63 shortly before 11:30 a.m. ET. That put the stock ahead 2.1% on the day and roughly 706% above the $10 a share that AeroClean (AERC) went public at on Wednesday.
- The stock shot up to as high as a $101.87 in Wednesday’s session before pulling back some to close at $79.84, up 689% on the day.
- AeroClean (AERC) makes an air purifier called Purgo (pronounced “pure go”), which aims to remove viruses, fungi and bacteria from the air in hospitals, airplanes and other sites.
- The company's shares have been rallying even though AERC reported in a Form 1-A filing that it had five employees, zero revenues and about a $4.7M loss in its latest reporting period.
- The firm went public via a so-called a “Reg A+ IPO,” which allows companies to raise $75M or less with reduced documentation vs. what a traditional go-public deal requires.
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