Why COMPASS Pathways Mushroomed Almost 20% Today
Shares of biotech start-up COMPASS Pathways (NASDAQ: CMPS) weren't doing much of anything during this trading day until around 2:30 p.m., when they shot up 17%. Shares then settled back to close up 12% on the day.
Credit the popularity of CNBC for the move, as chairman, co-founder, and chief executive officer (CEO) George Goldsmith was on to tell his company's story, causing the jump.
The company went public one month ago with an initial public offering (IPO) priced at $17 per share, and closed today's session at $38.39 after today's move. CEO Goldsmith went on CNBC this afternoon to discuss the company's psychoactive treatment for depression.
Source Fool.com
