American Superconductor Corp. Soars 46.3% in Stock Surge

AMSC stock set for highest close in 22 months

American Superconductor Corp. (AMSC) experienced a remarkable surge on Tuesday, with its stock skyrocketing by 46.3%. This puts the power-grid and wind-power company on track for its highest close in 22 months.

Impressive Trading Performance

Currently trading around $14.74 per share, AMSC is poised to achieve its highest close since November 11, 2021, when the stock reached $16.47, as reported by Dow Jones Market Data. Tuesday's trading volume reached a staggering 36.32 million shares, surpassing its 65-day average of just under 355,000 shares.

Unprecedented Winning Streak

AMSC has been enjoying a remarkable winning streak, with its stock rising in seven out of the past eight days. This streak marks the company's longest winning streak since June 6, 2023, when it experienced seven consecutive trading day gains, according to Dow Jones Market Data.

Superconductor Technology Gains Attention

While there appears to be no apparent corporate news driving this surge in AMSC stock, superconductor technology has been gaining significant attention lately. Researchers in South Korea claim to have discovered a room-temperature ambient-pressure superconductor, causing a viral buzz and some skepticism within the scientific community, as reported by Scientific American.

Noteworthy Endorsement

Samantha LaDuc, founder of LaDucTrading.com, highlighted the "hot" superconductor theme in a tweet on Monday.

Impressive Performance for AMSC Stock

In 2023 alone, shares of American Superconductor have risen by an impressive 310%, surpassing the S&P 500's gain of 19.1% (SPX). AMSC continues to demonstrate its resilience and growth potential in the market.