May 17, 2021 Business

Reasons Behind The Rise In Bionano Genomics Stock Price

The stock market is unpredictable. You will never know which company stocks will rise the next day. However, you can still predict the stock value with proper analysis.

Most investors rely on analysis reports before investing in a stock. Even a small factor can affect the price of the stock. The same thing happened with Bionano Genomics stock.

It was a penny stock that got a boost in the last few months. It all happened with simple praise on Reddit. Investors began talking about how the company is developing some of the best genome mapping instruments.

It affected the price of NASDAQ BNGO and made it one of the best performing stock in the first quarter of 2021.

Why NASDAQ BNGO Price Surged?

In the year 2020, it was one of the worst-performing stock which investors avoided. However, in the first few months of 2021, the stock price took a complete turn and surged in the market. Many investors used this opportunity to make millions in profit. There were many reasons behind the price surge.


Stock Investment

  • Increase in Revenue: One of the main reason behind the price surge was an increase in revenue. In the last quarter of 2020, the company reported nearly $3.99 million in revenue. It was one of the factors which encouraged the investors to invest their money in the stock and boost the stock value.
  • Better Performance: The performance of the company have increased drastically in a span of a year. In the year 2019, the company reported only $2.8 million in revenue. However, in the year, 2020 the revenue increased because of better performance.
  • Surpassing Estimate: Wall Street had estimated that the company would make $3.5 million in revenue. However, it surpassed the estimate and made more money in that year. It created a positive impact on NASDAQ BNGO price at
  • Business Highlights: Instead of simply publishing the financial report, the company highlighted their future plans in the report, which gave investors a clear insight. As the future prospects looked promising, it affected the stock price.
  • Lineagen Acquisition: The Company have also completed the acquisition. They have taken over Lineagen. It is a diagnostics service provider.
  • Raising Money: The Company have raised money at the beginning of the year. It helped them to create hype amongst the investors and thereby increase the stock price.
  • Change in Leadership: They have also changed the leadership of the company, which attracted many investors.
  • Reddit Hype: Along with all these events, the hype of Reddit was enough to give a boost to NASDAQ BNGO stick prices.

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