The stock markets closing bell will be ringing soon, and one thinly traded nano-cap company will be ending the day feeling pretty good. After all, a stock that increases more than 25% when there is no particular news to account for that action is pretty impressive. Wouldn’t you say? Hence, why MYnd Analytics, Inc. (NASDAQ:MYND) is one of the trending tickers of the day.
MYnd Analytics – What’s Going On?
On Thursday, shares of MYnd Analytics started moving northward. Specifically, the predictive analytics company is currently trading at $1.92 on the Nasdaq Exchange. This puts the stock up $0.40, or 26.57%. Despite not announcing anything Thursday that could explain such a significant jump, the market has done some investigating of their own.
What Caused a Jump of More Than 20%?
Perhaps one of the reasons for today’s nearly 30% jump was caused by the company’s April 4th announcement. On April 4, MYnd Analytics, Inc. disclosed that it had finalized a private placement for gross proceeds of $2.1 M. This private placement was reportedly completed on March 29th of this year. With that being said, the company was already seeing increases in its stock price long before the private placement was disclosed. As a matter of fact, one day before the announcement, its shares increased nearly 40%.
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Investors have also expressed the possibility of today’s increase stemming from the MYnd Analytics, Inc. numbers at the end of December. For instance, at the end of December 2017, Mynd Analytics had $2.7 million in cash and equivalents. Operations reportedly consumed $2.4 million. Adding to that, MYnd Analytics also just recently filed a prospectus for a $75 million mixed shelf offering. Either way, MYnd Analytics is going to end Thursday’s session trading well above the 20% mark. It will be interesting to see if this increase continues tomorrow or on Monday.
Meanwhile, MYnd Analytics is not the only company trading higher today for no particular reason. Geron Corporation (NASDAQ:GERN) is currently trading up more than 20% and the market has no idea why. Again, investors have speculated various reasons, one of which is the stock is surging due to the anticipation of Johnson & Johnson’s Q1 financial earnings report.
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