The Bionano Genomics (NASDAQ:BNGO) stock had started off the year with a bang and had soared by as much as 3000% at one point.
The rally in the stock had been primarily fuelled by retail investors over at the Reddit community WallStreetBets, who had been responsible for similarly remarkable gains in little-known stocks at the different points this year.
While it is true that many of the stock that had rallied that way did not offer much in way of promise in terms of their businesses, the case with Bionano is different.
The company’s Saphyr optical genome mapping system had piqued the interest of many investors, including that of Carrie Wood of Ark Investments. As a matter of fact, Wood had also advocated for the addition of Bionano to the Ark Genomic Revolution ETF.
The company’s technology seems to bridge a critical gap in sequencing technologies and that seems to be the reason behind the optimism among many. This might be a stock worth tracking at this point for investors.
Editor in Chief.
Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life