Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading
Predictive Oncology Inc (NASDAQ: POAI) stock rallied 22.68% during the premarket session despite not making any substantial moves today.
The lack of news drivers behind today’s rally point to a push by retail investors to accumulate the precision medicine company’s shares, in what could turn into a short squeeze if the rally continues.
Meanwhile, the last important announcement from Predictive Oncology was the release of its Q2 earnings results on August 12, 2021.
The firm generated $350,200 in revenues during the three months, representing a 92% improvement to the figures reported a year earlier.
At the time, the firm noted that its subsidiary TumorGenesis had partnered with Swedish firm Cellevate AB to create cutting-edge tools for use by researchers in developing treatments for challenging diseases.
Predictive Oncology’s subsidiaries TumorGenesis and Soluble Biotech were constructing GMP facilities to help expand its services and meet its clients growing needs.
The firm had a cash balance of $44.9 million at the end of Q2 from various fundraising activities, including issuing new shares.
With the above fundamentals coupled with the company’s excellent financial condition, we could say that the firm’s prospects looked quite promising, yet its share price has been trading sideways since then.
While fundamental drivers did not drive today’s rally, many hope to get a multi-day rally, but only time will tell. Meanwhile, I will be watching how the stock trades at the open.
*This is not investment advice.
Predictive Oncology stock price.
Predictive Oncology stock rose 22.68% premarket to trade at $1.20, increasing from Tuesday’s closing price of $0.97.
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