Stock Performance - Qualigen Therapeutics (QLGN) stock experienced a significant rally on Friday, with shares soaring more than 59% during normal trading hours [1] - The trading volume on Friday reached 244 million shares, a massive increase compared to its daily average trading volume of about 5.4 million shares [1] - On Monday morning, QLGN stock saw a 12% drop, with only about 1.4 million shares traded as of the writing [2] Market Activity and Speculation - There was no specific news, press releases, SEC filings, or analyst coverage that could explain the sudden surge in QLGN stock on Friday [3] - QLGN is considered a penny stock, which is subject to high volatility, often driven by speculative trading or retail and day traders [4] Industry Context - The article mentions other stocks such as China Liberal Education (CLEU), Shapeways (SHPW), and Inspire Veterinary (IVP) as part of the broader stock market news on Monday [5] - InvestorPlace generally avoids publishing commentary on companies with a market cap of less than $100 million or those trading less than 100,000 shares daily, due to the high risk of market manipulation associated with penny stocks [5]
Why Is Qualigen Therapeutics (QLGN) Stock Down 12% Today?