- NASDAQ: APM ended Tuesday's session with a surge of 90% after hitting even higher levels.
- Shares then collapsed back below $3, completing a pump-and-dump move.
- Aptorum Group launched a new unit focused on an infectious disease liquid biopsy unit.
- Venturing into a new field involving the coronavirus implies strong growth for the low-valued company.
When a stock trades at rock-bottom levels, a small spark is all that is needed to trigger a surge. Aptorum Group Ltd nearly quadrupled in value in Tuesday's intense session, closing at $4.76 after already hitting a high of $14.23. Shares then collapsed back below $3 on a Wednesday session dominated by bears, taking the price back nearly to Monday's levels. On Thursday, trading action was quiet, with NASDAQ:APM closing at $2.89 after staying the whole session between $2.7 and $3.1.
After the recent leap and plunge, NASDAQ: APM's market capitalization is only $87.82 million. Can it rise?
APM Stock News
Aptorum jumped after announcing the launch of Aptorum Innovations, a subsidiary focused on infectious disease liquid biopsy diagnostics. When speaking of diseases that spread rapidly, SARS-Cov-2 – the virus behind COVID-19 – immediately comes to mind.
Indeed, Aptorum has in-licensed exclusive rights to develop novel molecular-based rapid pathogen identification and detection diagnostics (RPIDD) technology with a Singapore-based company called Accelerate Technologies PTE Ltd. The fir is the commercialization arm of the city-state's Agency for Science, Technology, and Research.
The collaboration with a firm backed by Singapore – a country that successfully battled the coronavirus, is inspiring investors.
While several COVID-19 vaccines are at a late stage, there is still room for those specializing in rapid identification of this coronavirus and potentially new ones that could appear in recent years. It is essential to note that the full mitigation of the original SARS disease from 2002-2003 was never fully achieved.
Broader markets are focused on the chaotic presidential debate – which veered away from the virus – yet its prominence is still critical for investors.
See Presidential Debate: Stocks set to suffer on Trump's refusal to accept the results
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