The catalyst for the explosive rally was the report of positive mid-stage trial results for an inflammation therapy targeted toward patients with bladder pain syndrome, or interstitial cystitis.
The price action was taking place on a much higher than average. Over 50 million shares changed hands compared to its 20-day average of 2.46 million shares.
The stock went higher and higher and didn't really stop. With this much I decided to go long. But because it was already up insanely much, I didn't want to risk a big pullback.So I traded carefully.
Little did I know, it reached all the way to the $11.7 before it pulled back a little.
This big move in a stock is really rare. But it can happen with penny stocks.