PHUN - 2 Biotech Stocks That Could Go Parabolic This Week
Stocks rarely go straight up. When they do, the uncommon occurrence is called a "parabolic move." In stock terminology, such as move is defined by a sudden and dramatic increase in buying volume, thereby causing the company's share price to rapidly rise in a manner that resembles a parabola.
Oddly enough, this phenomenon has happened on a far more regular basis in 2021 than at any other time in the history of the U.S. stock market. The most recent examples are the explosive upward moves by shares of Donald Trump's social media-associated stocks, Digital World Acquisition (NASDAQ: DWAC) and Phunware (NASDAQ: PHUN) .
Last week, Digital World Acquisition's shares rose by as much as 1,500%. Phunware's shares, for their part, posted a jaw-dropping intraday high of over 2,000% during a single trading session last week.
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2 Biotech Stocks That Could Go Parabolic This Week