PharmaCyte Biotech (NASDAQ:PMCB) The stock takes off on Wednesday and there are a few things that potential investors need to know about the company.
Let’s go over all the details traders need to know about PMCB stocks today below!
- PharmaCyte Biotech is a biotechnology company that develops cell therapies for cancer and diabetes.
- For this, the company uses an exclusive living cellulose-based encapsulation technology called Cell-in-a-Box.
- This technology serves as a development platform to create treatments for various types of cancer and diabetes.
- Investors will want to know that the company only recently started trading on the Nasdaq Stock Exchange.
- Previously, the company traded on the Over-the-Counter Markets Group.
- PharmaCyte Biotech was listed on the Nasdaq after a reverse stock split in an attempt to attract additional investors.
- The company said it needed the additional funding to continue its work.
- The plan was a success because it won over many institutional investors after this consolidation of shares.
- However, it is clear that the business remains a risky bet for traders.
- Even after the reverse stock split and the Nasdaq uplist, PMCB stocks are still firmly in the penny stock range.
- This means traders will want to be extra careful when investing in stocks.
- Penny stocks are prone to volatility because they are easier to manipulate than other stocks.
- PMCB is experiencing incredibly intense trading today with some 68 million shares changing hands.
- This is a significant jump from the company’s average daily trading volume of around 431,000 shares.
PMCB stock was up 117.1% on Wednesday morning.
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, submitted to InvestorPlace.com Publication guidelines.
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Article printed by InvestorPlace Media, https://investorplace.com/2021/08/pmcb-stock-14-things-to-know-about-pharmacyte-biotech-as-shares-skyrocket/.
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