Exuberance Over Good News Drives Bionano Genomics’ Wild Week
John Alford, 04 January 2021
Bionano Genomics, Inc. (BNGO) has been on a wild, meteoric rise in the past few days, and after hours on the 31st it continued to skyrocket, rising to $4 a share. On the 31st of December alone, counting market and after-hours trading, share prices surged $1.90, almost doubling. This capped a wild week, and is a momentum-driven mania trade not based on the previous performance or long-term trend of the company. While recently reporting one good report (via a paid PR service), there are obvious issues surrounding the company to the investor that takes the time to evaluate their most recent 10-Q, recent and potential massive dilution, and decreasing revenue. Continue reading “Article: Exuberance Over Good News Drives Bionano Genomics’ Wild Week”
