PharmaCyte Biotech (NASDAQ:PMCB) stock is taking off on Wednesday and there are a few things that potential investors need to know about the company.
Let’s jump into all the details traders need to know of PMCB stock today below!
- PharmaCyte Biotech is a biotechnology company developing cellular therapies for cancer and diabetes.
- The company is using a proprietary cellulose-based live-cell encapsulation technology called Cell-in-a-Box for this.
- This has the tech acting as its development platform to create treatments for various types of cancer and diabetes.
- Investors will want to know that the company has only recently started trading on the Nasdaq Exchange.
- Prior to this, the company was trading on the OTC Markets Group.
- PharmaCyte Biotech uplisted to the Nasdaq after a reverse stock split in an effort to gain additional investors.
- The company said it needed that additional funding to continue its work.
- The plan was a success as it gained numerous institutional investors after that reverse stock split.
- However, there’s no denying that the company is still a risky bet for traders.
- Even after the reverse stock split and uplist to the Nasdaq, PMCB shares are still firmly in the penny stock range.
- That means traders will want to be extra careful about investing in the stock.
- Penny stocks are prone to volatility as they are easier to manipulate than other stocks.
- PMCB is seeing incredibly heavy trading today with some 68 million shares changing hands.
- That’s a massive jump from the company’s daily average trading volume of roughly 431,000 shares.
PMCB stock was up 117.1% as of Wednesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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