Yield10 Bioscience (YTEN) Stock Rockets On BlackRock Stake

Yield10 Bioscience YTEN Stock News

Yield10 Bioscience Inc (NASDAQ: YTEN) is rocketing in the market this morning, trading on gains of over 28% early on. While the company hasn’t announced any news, there’s good reason for the gains. According to an SEC filing, BlackRock Inc. just loaded up on shares. Here’s what’s going on:

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YTEN Rockets As BlackRock Buys Shares

In an SEC filing issued early this morning, BlackRock announced that it has purchased 5.2% of Yield10 Bioscience. This is important for multiple reasons.

First and foremost, BlackRock is one of the largest funds on Wall Street today, with $7.4 trillion under management as of the close of 2019. In the market, we tend to see retail investors following the moves made by big money investors.

With sucha  large fund making a decision to investin YTEN, the news is causing excitement in the investing community, and retail investors are following. However, that’s not the only important thing to consider here.

Back in November, Billionaire Jack Shumer and his wife announced that they have accumulated ownership of about 76% of YTEN. Considering the 5.2% now owned by BlackRock, there’s not much left out there.

In fact, institutional and retail investors only have a float of about 140,000 shares left to tap into. That’s very attractive for investors and traders alike.

At the end of the day, stocks with low floats have the potential to see dramatic gains pretty quickly. With so much excitement surrounding the BlackRock purchase, and the fact that the float on the stock is tiny, there’s potential for YTEN to run higher!

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