Ripster Makes The Case For Cyclacel On Benzinga's 'Power Hour'

Bio & Tech Trading Founder Ripy Ghuman — Ripster — explained on Benzinga's "Power Hour" Friday why shares of Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) were trading higher. 

The Case For Cyclacel: Cyclacel is a biopharmaceutical company that develops innovative medicines based on cancer cell biology. Shares jumped higher by more than 20% Friday despite no company-specific news release or any industry-wide events that would justify a move higher.

Ripster said he took a position in Cyclacel on Friday amid expectations for a short squeeze.

Related Link: 12 Health Care Stocks Moving In Friday's Intraday Session

Cyclacel's short float stands at around 30% at a time when investors are attracted to growth stocks that are highly shorted for no particular reason, as well as misunderstood companies that have a good story to tell investors, he said.

"Those are the best ones to get on," Ripster said.

Ripster On Buying High: Investors and traders looking at Cyclacel's chart and questioning if now is a good time to buy near the $10 level should consider Ripster's advice.

As a breakout trader, it is OK to "buy high" amid expectations to "sell higher," he said. 

CYCC Price Action: Cyclacel shares were up 20.% at $9.18 at last check.