Biodexa Pharmaceuticals (NASDAQ:BDRX) stock is rocketing higher on Tuesday alongside heavy pre-market trading of the clinical-stage biopharmaceutical company’s shares.
As of this writing, more than 15.8 million shares of BDRX stock have changed hands, well above the company’s daily average trading volume of about 3 million shares.
Investors will note that the float for BDRX stock is sitting at 842.62 million shares. It’s also worth mentioning that the short interest of this float is sitting at 46.89%.
Another thing for traders to keep in mind is Biodexa Pharmaceuticals’s penny stock status. That comes from its prior closing price of $1.27 and a market capitalization of only about $5.569 million.
What This Means for BDRX Stock
Considering these factors, it’s possible that traders are enacting a short squeeze of BDRX shares today. The latest news from the company would also kick off such heavy trading.
This means that BDRX stock may be volatile in the days to come. While the company’s shares are up now, they might give up much of those gains soon. Keep that in mind when considering an investment in Biodexa Pharmaceuticals.
BDRX stock is up 78% as of Tuesday morning.
Investors will find all of the hottest stock market news ready to go down below!
We have all of the latest stock market stories traders need to know about on Tuesday! Among that is what has shares of MGO Global (NASDAQ:MGOL) stock up, the biggest pre-market stock movers and more. All of this news is available at the following links!
More Stock Market News for Tuesday
- Why Is MGO Global (MGOL) Stock Up 106% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Trade of the Day: Buy VinFast (VFS) Stock Call Options for a Potential Short Squeeze
On Penny Stocks and Low-Volume Stocks: 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
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.
