Strong trading volume can often be an indicator of the level of activity in stock and more often than not it is a good thing. On Tuesday, it was the Halberd Corporation (OTCMKTS:HALB) stock that had emerged as a major mover on the back of the strong volume and ended the day with gains of as much as 16%.
The stock soared yesterday following a key development with regards to Halberd on Tuesday. Yesterday it emerged that the SARS-CoV-2 antibody that had been developed by Halberd had also shown the capability of tackling the Omicron variant of the COVID-19 virus.
Major Trigger
In this context, it is necessary to point out that the antigen had been tested against as many as five monoclonal antibodies that had already been approved for Emergency Use Authorization by the United States Food and Drug Administration.
Hence, it is quite clear to see that the development was a significant one for the company. In addition to that, the reaction of the market participants was also telling. The rise in the trading volume and the gains clocked by the stock are indications that there is now significant interest in the Halberd stock among investors.
On the other hand, the Chief Executive Officer and President of the company William A Hartman spoke about the development as well. He stated that the antigen from Halberd is the first one that had managed to display a ‘strong binding affinity with regards to the Omicron variant of the virus. In addition to that, Hartman also noted that the patented process that is deployed by the company does not actually require the capabilities related to neutralization.
The latest development is a major milestone for the company and it is likely that investors, as well as market watchers, are going to be keeping tabs on how Halberd takes the whole thing forward in the coming weeks.
