Telesis Bio (NASDAQ:TBIO) stock is on the rise Friday as the synthetic biology company’s shares experienced heavy trading this morning.
Shares of TBIO stock are off to a strong start on Friday with some 7.4 million shares changing hands as of this writing. That’s already well above the company’s daily average trading volume of about 468,000 shares.
Investors will note that this massive increase in trading volume comes without any clear news from the company. That includes a lack of news releases or filings. Telesis Bio also isn’t getting any new analyst coverage today that would cause this rally.
One thing that traders do want to keep in mind is TBIO being a penny stock. That comes from its prior closing price of about 46 cents and market capitalization of only around $13.719 million.
Why That Matters to TBIO Stock
Since TBIO is in penny stock territory, the shares are open to certain vulnerabilities. That includes manipulation of its price from traders that would try to pump and dump the shares.
If that is what’s going on with TBIO stock today, traders are going to want to avoid Telesis Bio shares. While the stock is up now, it might not be long before a dip pulls the shares back down.
TBIO stock is up 28.9% as of Friday morning. That builds on a 17.5% year-to-date gain as of yesterday’s close.
There are even more stock market stories traders are going to want to read about below!
We’re offering coverage of all the hottest stock market stories worth knowing about on Friday! Among that is what’s happening with shares of Beneficient (NASDAQ:BENF) stock, the biggest pre-market stock movers this morning and more. You can find out all about these topics at the following links!
More Stock Market News for Friday
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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
