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ME Stock: 6 Things to Know About 23andMe as Shares Shoot Higher Today

23andMe (NASDAQ:ME) stock is running higher on Friday as investors pile on thanks to a recent interview on CNBC.

a visualization of DNA in a vial representing ME stock.

Source: Connect world / Shutterstock.com

The interview has EMJ Capital’s Eric Jackson giving a positive mention to the company last night. That resulted in shares seeing a boost after-hours, as well as making the company one of our biggest pre-market stock movers this morning.

As a result, ME stock is experiencing heavy trading today. As of this writing, more than 15 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 1.7 million shares.

Adding to all of that is ME stock’s penny status with a price still below $10 per share. That low entry point makes it easier for investors to jump into as it doesn’t require as big of a commitment as other stocks.

With all that said, let’s take a look at what traders need to know about 23andMe.

  • 23andMe is a DNA genetic testing company.
  • It offers services for users seeking both health and ancestry data from their DNA.
  • The company was founded in 2006 and has sold more than 12 million DNA kits since then.
  • Even so, the company is still new to the public market.
  • It debuted on the Nasdaq Exchange earlier this year following a merger with special purpose acquisition company (SPAC) VG Acquisition.
  • 23andMe’s current market cap is $3.862 billion.

ME stock was up 18.5% as of Friday afternoon.

There’s more stock market news for traders to check out below!

InvestorPlace has all the latest stock coverage for the hungry investor. Among that is what’s happening with LM Funding America (NASDAQ:LMFA), Xpeng Motors (NYSE:XPEV), and Upstart (NASDAQ:UPST) shares today. You can get those details from the following links!

More Friday Stock Market News

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.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed


Article printed from InvestorPlace Media, https://investorplace.com/2021/10/me-stock-6-things-to-know-about-23andme-as-shares-shoot-higher-today/.

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