Biocept Inc (NASDAQ: BIOC) is having a horrible start to the trading session this morning, leading many investors to abandon ship. However, savvy investors know that when fear is in the air, it’s time to get greedy. Those that get greedy with this stock now will likely reap the rewards later. Today, we’ll talk about:
- Why this is a dip worth buying;
- what we’re seeing from BIOC stock; and
- what we’ll be watching for ahead.
Why You Should Consider Buying The BIOC Stock Dip
As mentioned above, Biocept is having an incredibly rough start to the trading session this morning. However, it’s important to note that no news is out. So, what’s the deal?
Well, it looks like the stock is the victim of a bit of a profit taking. Recently, BIOC went on an incredible run for the top after announcing the launch of its Target Selector product. The product is designed to provide diagnosis data surrounding lung cancer.
Interestingly, many with lung cancer are unable to undergo customized treatment plans as to do so, molecular testing of tissue is required. Often times, this tissue is unavailable.
With the new product from BIOC, this molecular testing can now take place via a simple blood sample. This is key as treatment based on molecular testing to find the best route leads to increased survival among the lung cancer population.
Considering this, the Target Selector has the potential to become a blockbuster product, generating positive outcomes for patients and those that care for them while generating incredible returns for BIOC investors.
So, while profit taking may be the theme of the session for BIOC today, the stock has tremendous potential to produce long-term value. With the declines, we’re seeing an opportunity to get in on this long-term value at a discounted rate.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Biocept, the news proved to be overwhelmingly positive, sending the stock shooting up.
However, when strong gains happen, profit taking is a common result. Nonetheless, sticking in there through the profit taking and potentiallly increasing your holdings will often lead to strong long run gains following news like this.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the declines. At the moment (10:25), BIOC is trading at $1.36 per share after a loss of $0.14 per share or 9.33% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BIOC. In particular, we’re interested in following the story surrounding the company’s continued work to expand value for investors through the commercialization of its Target Selector product. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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