Bluejay Diagnostics, Inc. (NASDAQ:BJDX) shares are soaring Wednesday. The price move was marked by unusually high volume.
What To Know: Bluejay stock has been in decline since early August. The month was marked by negative catalysts such as the company’s dismal second-quarter earnings report and the announcement of a $1.59 million registered direct offering of 216,000 shares at $7.365 per share. Shares fell over 135% since the beginning of August from the stock’s three-month high.
However, Bluejay stock spiked in price Wednesday on abnormally high volume. According to data from Benzinga Pro, the stock experienced above-average trading volume of 35.67 million shares compared to its average volume of 593,393.
The stock also has elevated short interest with 7.99% of shares currently sold short, which could have helped to fuel Wednesday’s surge in price.
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BJDX Price Action: Shares of BJDX were up 44.8% at $4.49 at the time of publication, according to Benzinga Pro.
Image by Konstantin Kolosov from Pixabay
