BioAffinity Technologies [BIAF] - Last Close: $8.30
Shares of BioAffinity exploded after the company made its public market debut.
The micro-cap biotech firm completed its IPO on the Nasdaq Capital Market on Thursday afternoon, and shares quickly skyrocketed after hitting the open market.
BioAffinity priced the offering of 1.3 million shares at $6.13 apiece. Altogether, gross proceeds came to $7.9 million.
BIAF gained 36.0% on trading volume of 6.3 million shares on Thursday, and the stock carried its momentum into this morning's premarket trading session.
Today, shares of BIAF are up 33.3% on strong volume ahead of the opening bell.
My Take: IPO's have been a hot commodity lately, but the rallies are usually followed by a sharp pullback soon after (look at SHPH today!). If you think you can time a short-term trade to perfection, more power to you, but be careful you don't get caught holding the bag when the pullback comes.
Forza X1 Inc [FRZA] - Last Close: $3.72
Forza X1 is surging after putting in a new low on Thursday.
The Florida-based electric boat manufacturer hit a new 52-week low on Thursday, but it's coming back strong in today's premarket.
FRZA set a new 52-week low of $3.51 and closed with a 1.3% decline in Thursday's trading session despite no bearish headlines in the news.
However, today's rally may indicate that the stock is bottoming out. Shares are making a sharp move higher to help the stock break its recent funk.
FRZA is one of today's top performers with a 15.1% gain on active trading volume.
My Take: The bottom might be in for FRZA. The stock is coming off its new low with a big rally, so maybe investors are beginning to see value in this beaten down stock. It could be an excellent candidate for a potential swing trade.
