I bought 10,000 BNGO stock at $4.28. It had dropped from a high of $5 the previous day due to the issue of new stock at a price below the market.
I observed that another stock, Nano Dimension (NNDM) had seen a sharp drop when new stock was issued, but it had recovered strongly.
I believed that BNGO would recover within a day from the sharp drop. My hunch was correct. BNGO recovered to $4.70 at market close and moved further to $5.10 in the after market.
BNGO is a genome stock. It increased sharply due to strong investor interest during the past two weeks.
This video explain the sharp increase in BNGO stock yesterday.
This video explains the business of BNGO. (Note, this is just one person's view. The stock may or not behave as he predicted).
You can view the financial information of BNGO here.
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