Qualigen Therapeutics (NASDAQ:QLGN) stock is sliding lower on Monday as the clinical-stage therapeutics company’s shares come off of a rally on Friday.
That rally saw shares of QLGN stock soar more than 59% higher during normal trading hours. This came alongside 244 million shares of the stock changing hands. That’s a massive increase over its daily average trading volume of about 5.4 million shares. Investors will note that the float for Qualigen Therapeutics is 9.59 million units.
QLGN stock isn’t seeing nearly as much movement on Monday morning. Only about 1.4 million shares of the stock have been traded as of this writing. With that comes a 12% drop for Qualigen Therapeutics’ shares this morning.
What’s Behind Friday’s Rally
There was no news from Qualigen Therapeutics that would cause its shares to take off like they did on Friday. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). It also doesn’t appear that analyst coverage was behind the surge.
However, traders will keep in mind that QLGN is a penny stock. That means it’s subject to volatility. This can happen with speculative traders buying shares or retail and day traders pumping the stock. No matter the case, investors will want to be careful about taking a stake in QLGN right now.
Investors will want to stick around for more of the most recent stock market stories today!
We have all of the hottest news moving shares on Monday morning! That includes what’s happening with shares of China Liberal Education (NASDAQ:CLEU) stock, Shapeways (NASDAQ:SHPW) stock and Inspire Veterinary (NASDAQ:IVP) stock today. All of that info is ready at the following links!
More Stock Market News for Monday
- Why Is China Liberal Education (CLEU) Stock Down 45% Today?
- Why Is Shapeways (SHPW) Stock Up 84% Today?
- Why Is Inspire Veterinary (IVP) Stock Up 103% Today?
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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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
