Amyris Inc (NASDAQ: AMRS)
Amyris is having an incredibly interesting start in pre-market trading today. The stock was up more than 9% before falling near the break even point. Nonetheless, there’s a strong argument that there’s plenty more room for gains here. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to AMRS ahead.
What We’re Seeing From AMRS
As mentioned above, Amyris is having an incredibly interesting time in pre-market trading today. Early on, the stock made a quick run for the top, gaining more than 9% in a very short period of time. However, just before the opening bell, the stock retreated from gains and is now very close to the break-even point. Currently (9:09), AMRS is trading at $0.73 per share after a gain of 0.22% thus far.
Why The Wild Movement?
As always, our partners at Trade Ideas sent us a signal when the stock was making the initial run with over 9% gains. As soon as we got the signal, we started working to see exactly what was happening. Honestly, this one took a bit to uncover the cause of the wild movement. At the end of the day, there has been no recent fundamental news that would lead to such gains on AMRS.
Nonetheless, we believe that we’ve found the cause. The truth is that Amyris is a stock that has an incredibly low float. This means that traders largely have control over the movement… for now. At the end of the day, there are plenty of reasons for traders to be excited. With several collaboration agreements signed throughout the year and the first product hitting the shelves, AMRS is currently in a very strong position for long-run growth.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AMRS. In particular, with all of the collaboration agreements signed throughout 2016, we’re interested in seeing what products are released in 2017. We expect it to be an incredible year. We’ll keep a close eye on the news and update you as it breaks!
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