Why has SeqLL (SQL) stock increased by 43% today?

SeqLL (NASDAQ:SQL) stock is up on Monday with heavy trading despite the lack of news from the molecule sequencing technology company.

Entering this trade, some 1.7 million SQL shares have changed hands at the time of writing. This is a major increase from its average daily trading volume of around 163,000 shares.

However, investors will keep in mind that there is no recent news from the company that explains this activity. This includes a lack of press releases, Securities and Exchange Commission (SEC) filings or analyst coverage.

What you need to know is that SQL is a penny stock. This comes from its low closing price of 34 cents on Friday and its market capitalization of $4.652 million. This means the stock is more prone to volatility. This is all the more true in pre-market exchanges.

What to know about SQL stock

SeqLL was founded in 2013 and operates out of Woburn, Mass. The company went public in August 2021 through a $13 million initial public offering (IPO). This saw the debut of shares in the company priced at $4.25 per share.

SeqLL mainly focuses on the development of molecule sequencing technology. This leads him to better understand “the molecular mechanisms of disease and fundamental biological processes”.

SQL stock is up 42.9% on Monday morning.

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As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

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