SeqLL (NASDAQ:SQL) stock is on the rise Monday with heavy trading despite a lack of news from the molecule sequencing technology company.
Getting into that trading, some 1.7 million shares of SQL stock have changed hands as of this writing. That’s a major increase compared to its daily average trading volume of about 163,000 shares.
However, investors will keep in mind that there’s no recent news about the company that explains that activity. That includes a lack of press releases, Securities and Exchange Commission (SEC) filings, or coverage from analysts.
What is worth knowing is that SQL is a penny stock. That comes from its low closing price of 34 cents on Friday and its market capitalization of $4.652 million. This means the stock is more subject to volatility. That’s doubly true during pre-market trading.
What To Know About SQL Stock
SeqLL was founded in 2013 and operates out of Woburn, Mass. The company went public in August 2021 through an upsized $13 million initial public offering (IPO). That saw the company’s stock debut at a price of $4.25 per share.
SeqLL’s main focus is on the development of molecule sequencing technology. This has it seeking a better understanding of “molecular mechanisms of disease and fundamental biological processes.”
SQL stock is up 42.9% as of Monday morning.
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Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
