T2 Biosystems (NASDAQ:TTOO) shares rose more than 50% on Tuesday, continuing the stock’s two-day winning streak as the stock benefits from “meme-like” buzz.
T2 Biosystems (NASDAQ:TTOO) has gained about 530% in the last month. Shares of the company, which develops in vitro diagnostics tools, began to rise after investors learned on July 31 that it had been granted an extension to comply with the Nasdaq’s minimum bid price of $1 and market value of listed securities requirement of at least $35 million.
The company has since regained compliance with the minimum market value requirement, met on August 7, 2023, which was the 10th consecutive trading day when its market value was at least $35 million.
And with its shares trading up 51.5% at US$0.59 at the market close on Tuesday, the stock is now more than halfway towards the minimum bid price of $1 required to remain listed on the Nasdaq.
The company must achieve the minimum bid price by November 20, 2023.
Shares of T2 Biosystems (NASDAQ:TTOO) continued to rise in after-hours trading overnight, having added another 14% to US$0.67 before the opening bell on Wednesday.
- Updated with share price movement -
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