That rally was caused by heavy trading of BBLG stock. This saw some 44.2 million shares of the company’s stock change hands yesterday. With that came a 50% rally for Bone Biologics stock.
Investors will note that Bone Biologics didn’t release any news yesterday to fuel that stock rally. Instead, it seemed to be a case of certain traders taking advantage of BBLG’s penny stock status to manipulate its share price.
What That Means for BBLG Stock Today
Considering the lack of news behind yesterday’s rally, it makes sense that BBLG shares would give up much of those gains today. Investors will note that this comes as some 460,000 shares traded this morning. For comparison, the company’s daily average trading volume is closer to 875,000 shares.
Keeping all of this in mind, investors might not want to jump in on BBLG stock with this dip. While it’s possible retail and day traders could target it for another pump in the near future, there’s no guarantee of that. That means an investment with that hope is overly risky.
BBLG stock is down 37.8% as of Friday morning.
Investors seeking out even more of the most recent stock market news will want to keep reading!
We’re offering up all of the hottest stock market happenings that traders need to know about on Friday! A few examples of that include why shares of Mural Oncology (NASDAQ:MURA) and Safe & Green Development (NASDAQ:SGD) stock are up today, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the links below!
More Friday Stock Market News
- Why Is Mural Oncology (MURA) Stock Up 59% Today?
- Why Is Safe & Green Development (SGD) Stock Up 140% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
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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.