The SeqLL Inc (NASDAQ: SQL) stock price today soared 176.2% despite not making any new announcements as investor interest in the company soared, triggering an influx of buyers who pushed the firm’s stock price higher.Â
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Over 9.18 million SQL shares had changed hands at writing as buyers flocked to the stock pushing it beyond its recent highs. However, the question remains, will SeqLL shares hold on to their gains until the day ends? The odds of such an outcome are low, but things could change by the time the market closes.
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To understand what is happening to SeqLL (SQL) stock today, we have to go back to Tuesday when the initial rally started after the company signed a two-year Cooperative Research and Development Agreement (CRADA) with the FBI triggering an influx of buyers.
SQL shares rallied over 283% after announcing the CRADA with the FBI but gave up some of their gains by the time the market closed. The situation was slightly better on Wednesday when SQL stock fell slightly. However, SQL stock close down almost 39% on Thursday.
Today’s premarket rally in SeqLL stock is a strong sign that investor interest in the company has not abated, which could fuel a sustained uptrend going forward. However, only time will tell. For now, it is encouraging to see the company attract such interest from investors.
Still, those who missed out on the initial rally and on today’s rally should not chase the stock higher since it is likely to give up some of today’s gains over the next few days creating a better entry opportunity for investors.
Furthermore, investors should be cautious about the latest rally, which some have cautioned could be the pump the company needs to raise more capital by issuing new shares at a higher valuation, which happens quite frequently in the markets.
Astute investors must always be on the lookout for pump and dump schemes where somebody promotes a stock, then sells their stake for a profit and exits just before the stock price tanks.
*This is not investment advice.
SeqLL (SQL) stock price.
The SeqLL (SQL) stock price soared 176.2% to trade at $2.32, from Thursday’s closing price of $0.84.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.