Biocept (BIOC) Stock Bounces Back As Investors Await News

Biocept BIOC Stock News

Biocept Inc (NASDAQ: BIOC) took a bit of a dive after a recent fund raise. However, when the stock fell, I explained that the declines could prove to be a big opportunity. Now, with no news, the stock is bouncing back in a big way. After nearly 40% gains yesterday, the stock is up nearly 20% in premarket trading today.

So, what’s the deal? Why is the stock running? Well, it seems to be Fear Of Missing Out, also known as FOMO. Allow me to explain:

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FOMO Drives Gains In BIOC Stock

As human beings, we don’t like to miss out on anything. These same emotions tend to play a role in how we move in the market. If we believe that something that will lead to big gains is going to happen, we want to get in to avoid missing out on the run. That seems to be excactly what’s going on with Biocept.

Since the Wuhan coronavirus outbreak started, it seems like every biotech that could work toward a vaccine, diagnostic test, or treatment, has announced that the work has started. When these announcements broke, the stocks saw dramatic gains. In fact, many of them are still seeing dramatic gains as investors await updates.

One stock that’s not on the list of recent COVID-19 related announcements is BIOC. While the company is leading the charge in liquid biopsy innovation, it has not yet said that it is doing anything to create a coronavirus diagnostic test.

Of course, diagnostic testing is key in the fight against any epidemic or pandemic, and the money to be made in the space is tremendous. So, investors are fearful that the company will announce that it has developed a coronavirus diagnostic test and they will miss the boat when the stock climbs. As such, we’re seeing tremendous volume and upward movement as investors pile in.

Why has the company released no coronavirus news yet?

In my line of work, I get the pleasure of speaking with CEOs nearly on a daily basis. Believe it or not, there are quite a few companies out there that are working on COVID-19 related products, but have chosen to keep quiet. The reason is simple.

These companies don’t want to just say that they are working on a coronavirus-related product, as many in the space have done. Instead, they want to be able to say that they have made significant advances in the fight against the Wuhan coronavirus. Essentially, these companies want to have something of substance to announce. I believe that BIOC falls into that category.

Now, I have not had the opportunity to speak with anyone at Biocept, but there’s a good reason for my belief here. As mentioned above, the company is leading the charge when it comes to liquid biopsy innovation. They have various diagnostic tests on the market today that pick up several different ailments. So, it only makes sense that given the massive opportunity in the world of coronavirus, the company would be working on a diagnostic test in this space as well.

Of course, when BIOC does announce that it has developed a COVID-19 diagnostic test, we’re likely to see a dramatic rise in the price of the stock. So, pay close attention here.

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