MultiCell Technologies (OTCMKTS:MCET) stock is soaring higher on Wednesday despite a clear lack of news concerning the biopharmaceutical company.
The increase in price for MCET stock comes alongside incredibly heavy trading of the shares. As of this writing, more than 1.6 billion shares of the stock have changed hands. That’s a massive spike next to the company’s daily average trading volume of 63 million shares.
So why exactly is MCET stock up today? While the reason is unclear, there’s quite a bit of talk about the stock on social media. Some speculate it’s a pump and dump while others claim that there was indeed new news from the company. However, that doesn’t appear to be the case.
With that in mind, investors will want to be careful before jumping into MCET stock. For those still interested, here’s what you need to know about the company.
- MultiCell Technologies is a biopharmaceutical company that hasn’t posted any new info in years.
- In fact, the company’s been dormant for so long that its official website isn’t even in use by it anymore.
- Instead, it has been snatched up and is being used for a German blog.
- The company was founded in 1970 and of the last reporting only had two employees working for it.
- Its headquarters is located in Woonsocket, R.I.
- Gerald Newmin serves as the chairman, president CEO and CFO of the company.
MCET stock was up 242.9% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
