What's Going On With BlueJay Diagnostics Stock?
Portfolio Pulse from Erica Kollmann
Bluejay Diagnostics, Inc. (NASDAQ:BJDX) shares have surged after the company announced a 1-for-20 reverse stock split last Friday. The stock is up more than 20% since the split and over 40% for the session. Trading of BJDX was halted on Friday morning due to a circuit breaker but has since resumed. More than 7 million shares of BDJX have been traded in the session, compared to the stock's 100-day average of just under 244,700 shares.
July 28, 2023 | 3:06 pm
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Bluejay Diagnostics' stock has surged following a reverse stock split, with trading volume significantly higher than the 100-day average.
The announcement of a reverse stock split typically leads to a temporary increase in stock price due to the perceived increase in value. The surge in trading volume indicates increased investor interest, which could further drive up the stock price in the short term.
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