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Bluejay Diagnostics (BJDX) Stock Rallied 23.3% Despite No News

Analyst Team trader
Updated 7 Jul 2023

The Bluejay Diagnostics Inc (NASDAQ: BJDX) stock price rallied 23% as investor interest in the company skyrocketed despite the lack of recent news releases. Over 2.62 million BJDX shares had changed hands at writing as buyers flocked to the stock.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The lack of news means that we have to examine news and SEC reports filed by the company in previous periods, such as last month, to bring some context to the stock’s current behaviour. One of the last SEC filings from Bluejay Diagnostics was the current report filed on June 20, 2023.

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The current report had the results of the annual general meeting held by the company on June 14, 2023, where its shareholders approved the reappointment of all directors, the planned reverse stock split, and the company’s independent registered public accountant. 

Earlier in the month, the company had filed a registration statement with the US Securities and Exchange Commission (SEC) regarding the future sake of shares worth up to $25 million via a shelf registration. 

Since then, there has been no communication from the company over the past two weeks, leaving BJDX shares at the mercy of investor sentiment. Luckily for the company, investor sentiment towards it has been relatively positive. 

Investors interested in the company should know that Bluejay Diagnostics is focused on improving patient outcomes through a more cost-efficient, rapid, near-patient product for triage, diagnosis, and monitoring of disease progression.

The company’s SymphonyTM product is a near-patient biomarker detection platform that aims to help improve healthcare outcomes by providing quantitative clinical chemistry results vital for triage and acute care.

SymphonyTM is an innovative implementation of the reliable ELISE methodology widely used in the healthcare industry combined with modern advances in nanotechnology. The product features a unique design incorporating microfluidics and interrupted fluid dynamics to offer fast, simple, safe, and highly sensitive biomarker detection.

So, should you buy Bluejay Diagnostics (BJDX) shares? The short answer is that it depends on whether you are a day trader or a long-term investor. 

*This is not investment advice. 

Bluejay Diagnostics (BJDX) stock price. 

Bluejay Diagnostics (BJDX) stock price rallied 23.27% to trade at $0.2659, from Thursday’s closing price of $0.2157.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.