I bought 10,000 BNGO stock at $4.28. It had dropped from a high of $5 the previous day due to the issue of new stock at a price below the market.
I observed that another stock, Nano Dimension (NNDM) had seen a sharp drop when new stock was issued, but it had recovered strongly.
I believed that BNGO would recover within a day from the sharp drop. My hunch was correct. BNGO recovered to $4.70 at market close and moved further to $5.10 in the after market.
BNGO is a genome stock. It had increased sharply due to strong investor interest during the past two weeks.
This video explain the sharp increase in BNGO stock yesterday.
https://www.youtube.com/watch?v=eBUyq91nHaw
This video explains the business of BNGO. (Note, this is just one person's view. The stock may or not behave as he predicted).
https://www.youtube.com/watch?v=aGRB3XJMkSo