Kaleido Biosciences (NASDAQ:KLDO) stock is rocketing higher on Wednesday but anyone considering a stake in the company will want to keep an eye on April 28.
That’s when the company intends to delist shares of KLDO stock from the Nasdaq Exchange. This is a voluntary action as Kaleido Biosciences is winding down its business and ceasing all ongoing operations.
The delisting and operations ending news initially sent KLDO stock cratering lower, which makes sense. What comes as a surprise is the recent interest retail traders have taken in the company after that announcement.
Shares of KLDO stock are seeing incredibly heavy trading today as day traders appear to boost them higher. This has some 146 million shares of the stock changing hands as of this writing. That’s a massive leap over the company’s daily average trading volume of about 859,000 shares.
It’s worth pointing out that Kaleido Biosciences didn’t decide to shut down its business without warning. The company had already initiated a strategic process in an attempt to secure a deal that was in the interest of shareholders. Unfortunately, that didn’t come to pass.
KLDO stock is up 148.4% as of Wednesday afternoon but is still down 84.2% since the start of the year.
Investors searching for more stock market news will want to keep reading!
We’ve got all the latest news that traders need to know about for Wednesday! A few examples include what’s happening with shares of HighPeak Energy (NASDAQ:HPK) stock, Sierra Oncology (NASDAQ:SRRA) stock, and Uber Technologies (NYSE:UBER) stock today. You can read up on all of that at the following links!
More Stock Market News for Wednesday
- Why Is HighPeak Energy (HPK) Stock Up Today?
- Why Is Sierra Oncology (SRRA) Stock Up Today?
- UBER Stock in Focus Following New York Surge Pricing Complaints. What to Know.
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