SeqLL stock rockets on heavy volume again, in wake of 2-year development pact with FBI

Shares of SeqLL Inc.
SQL,
+57.14%
more than doubled on heavy volume ahead of Friday’s open, in the wake of the genetic sequencing company’s announcement earlier in the week about an product development agreement with the Federal Bureau of Investigation. The stock skyrocketed 128.6% on volume of 16.1 million shares premarket, enough to make it the biggest gainer and most active stock listed on major U.S. exchanges. The stock had soared 185.5% on volume of 106.1 million shares on Tuesday, after the company announced a two-year Cooperative Research and Development Agreement (CRADA) with the FBI to evaluate the forensic capabilities of direct RNA sequencing using SeqLL’s molecule sequencing platform. After that rally, the stock had tumbled 45.5% over the past two days. The stock’s early gain on Friday would put it on track for the highest close in 13 months. Still, the stock has dropped 45.5% over the past 12 months while the iShares Biotechnology exchange-traded fund
IBB,
-0.03%
has edged up 0.5% and the S&P 500
SPX,
+0.22%
has lost 9.4%.