Source: aslysun / Shutterstock.com
Telesis Bio (NASDAQ:TBIO) encountered a market whirlwind today as its shares witnessed a surge in trading activity this morning.
With approximately 7.4 million shares changing hands so far today, compared to the usual daily average volume of about 468,000 shares, TBIO stock is projecting strength early on a Friday.
Notably, this considerable surge in trading volume seems to lack any explicit catalyst from the company, such as news releases or filings. Besides, there is no fresh analyst coverage to explain this buoyancy in the stock.
Investors should note that TBIO operates in the penny stock realm, with a prior closing price around 46 cents and a market capitalization of only about $13.719 million.
Unpacking the Significance for TBIO Stock
Owing to TBIO’s status as a penny stock, its shares are susceptible to various vulnerabilities, including price manipulation by traders looking to inflate and then rapidly sell off the shares.
If this scenario unfolds with TBIO stock today, traders would be wise to exercise caution when considering Telesis Bio shares. While the stock is presently on the upswing, a potential downturn could swiftly reverse this momentum.
As of Friday morning, TBIO stock has surged by 28.9%. This uptick adds to a year-to-date gain of 17.5% as of the previous day’s close.
There is an array of compelling stock market narratives awaiting traders below!
Further Stock Market Developments for Friday
On the date of publication, William White did not hold any positions in the securities mentioned in this article, directly or indirectly. The viewpoints expressed herein are those of the author, adhering to the InvestorPlace.com Publishing Guidelines.
With few exceptions, InvestorPlace refrains from delivering commentary on companies with a market cap below $100 million or insufficient daily trading volume. This stance is to safeguard readers, recognizing that low-volume stocks like “penny stocks” are commonly targeted by manipulative practices. If indeed there is a publication about such a stock, InvestorPlace’s writers are mandated to disclose this information and alert readers of the associated risks.
Read More: Penny Stocks – How to Profit Without Getting Scammed
