: T2 Biosystems stock falls 12.1% premarket after snapping 3-day winning streak
Shares of micro cap T2 Biosystems Inc. TTOO plunged 12.1% in premarket trades Thursday. The health diagnostics company’s stock ended Wednesday’s session down 3.8%, snapping a three-day winning streak. The stock fell on trading volume of 335.85 million shares, well above its 65-day average trading volume of 97.38 million shares. T2 has been generating meme-like buzz recently and its stock has risen 468.2% in the last month. The company, which describes itself as a leader in the rapid detection of sepsis-causing pathogens and antibiotic-resistance genes, has a market cap of $197.18 million. T2 shares have fallen 59.9% in 2023, compared with the S&P 500 index’s SPX gain of 14.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.