SeqLL (NASDAQ:SQL) stock is taking off on Friday morning despite a lack of news from the forensic company.
Instead, it looks like investors can thank heavy trading for the boost to SQL’s stock price this morning. As of this writing, more than 12 million shares of the company’s stock have changed hands. To put that in perspective, the company’s daily average trading volume is about 2 million shares.
Investors will also keep in mind that SQL is a penny stock. That comes from its price being below $1 per share, as well as its market capitalization of only $19.4 million. Both of these factors mean it’s subject to volatility, which it’s seen a lot of this week.
What’s Behind The SQL Stock Volatility?
Earlier this week, SeqLL signed a two-year Cooperative Research and Development Agreement (CRADA) with the Federal Bureau of Investigation (FBI). That resulted in shares seeing massive gains that day, as well as retreating in the following days.
Considering shares of SQL stock are rising again today, it seems likely traders are pumping it up again after its rally earlier this week. As a result, the company’s stock is up 153.3% as of pre-market trading on Friday.
Investors looking for even more stock market news this morning are in luck!
We’ve got all of the hottest stock market news traders need to know about on Friday! That includes what has shares of ComSovereign (NASDAQ:COMS) stock, this morning’s biggest pre-market stock movers and more. You can find all that news at the following links!
More Friday Stock Market News
- Why Is ComSovereign (COMS) Stock Up 8,500% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- NXT Stock Alert: 5 Things to Know as Nextracker Starts Trading
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