Micro Cap Stealing Premarket Show Before Tuesday's Opening Bell

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, September 3, 2024

A California-based biotech company is turning already turning heads during Tuesday’s premarket hours after the company announced encouraging data results indicating potential for hair restoration using proprietary exosome technology.

Traders were quick to snatch up shares of Elevai Labs Inc. (Nasdaq:ELAB), with shares of the micro cap currently bid up at $0.3125/share (+17.30% implied open for sellers) at the time of writing. This move would add to the recent increased volatility that this stock has experienced over the last week or so.

Elevai Labs, Inc., a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc. and changed its name to Elevai Labs, Inc. in December 2021. Elevai Labs, Inc. was incorporated in 2020 and is based in Newport Beach, California.

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