Is Biolase (BIOL) All Set To Hit $1 This Week After The Recent Rally?

The Biolase Inc (NASDAQ: BIOL) stock had corrected sharply last week after having hit its peak back in February.

However, the rally in the stock seems to be back on considering the fact that it soared by as high as 16% on Monday. After having corrected by 40% since its peak, many might have thought that Biolase was going to correct further but things have turned out differently. On the other hand, it is also imperative to note that there has been no news with regards to the company that could have triggered the recovery yesterday. The only notable recent development from the dental lasers company was the announcement of its pricing with regards to the bought deal offering.

That announcement was made back on February 5. Biolase appointed Maxim Group LLC as the underwriter for the transaction. The company decided to offer 14,000,000 shares in order to raise $14.4 million.

Emile Ortega

Editor and Computer ExpertA hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.