- The stock price of Progenity Inc (NASDAQ: PROG) increased by over 25% during intraday trading today. These are the details.
The stock price of Progenity Inc (NASDAQ: PROG) increased by over 25% during intraday trading today. There are no company-specific reports driving up the stock price today so it appears there are external factors at play.
In this case, the momentum appears to be driven by investors who are active on social media platforms like Discord, StockTwits, Twitter, Facebook, etc. Investors on these platforms are citing Progenity as a short squeeze candidate.
Some investors are also speculating that the company will be making an announcement this week. These are some of the recent announcements from Progenity also contributing to the momentum:
October 6 – Announcement about the closing of its previously announced registered direct offering of 13,333,334 shares of the Company’s common stock, at a purchase price of $1.50 per share, priced at a premium to market under Nasdaq rules for gross proceeds of approximately $20 million, before deducting the placement agent’s fees and other offering expenses
September 21 – The company said it will participate in the 11th annual Partnership Opportunities in Drug Delivery (PODD) Conference, October 28-29, 2021 in Boston.
September 14 – The company announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent No. 11,112,403 for assessment of preeclampsia using assays for free and dissociated placental growth factor.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
