Aditxt (NASDAQ: ADTX) stock is up 127% overnight. There’s no news to explain this, no report from the company, nothing on the wires. It’s therefore difficult to explain why there is this ADTX stock price movement. Our assumption is that it’s simply a little wave of speculation in something that’s not even a microcap, it’s a nanocap. The market capitalisation is around the $1 million mark - although that obviously depends upon which price we wish to use to explain it.
The thing is we’ve been here before with Aditxt: “Aditxt (NASDAQ: ADTX) stock is up 460% on Thursday and then down again 48% after hours. So that’s half the ADTX stock price rise gone already - and if we look at the intraday prices it’s more than that. Perhaps 800% up and then a vertiginous fall of 63% or so. The trigger for this seems to be the private placement of some stock. We tend to think that the price reaction to that placement is unreasoned, silly beyond words in fact. But the price did move that much, market prices are market prices and so on.”
Yes, really, they issued more stock and the price rose that much.
Aditxt stock price from Google Finance
As we can see that price rise went away again and rather rapidly at that.
There’s also been the reverse stock split at Aditxt: “Aditxt (NASDAQ: ADTX) stock should rise 4,000% at the open. ADTX stock also rose 32% yesterday but these are two entirely and wholly different things. The 32% rise was a real price rise, one that fattened wallets. The 4,000% today will be a purely nominal rise as a result of a technical change. As we repeatedly point out we must not confuse real and nominal price changes - the distinction is vital.”
But that’s, as above, a purely nominal change.
As we say, the Aditxt stock price can be highly volatile and often enough for no good reason. We assume that this is just another one of those instances of near random speculation in a nanocap. As such we also expect it to fade soon enough.
