Why Celldex Therapeutics, Inc. Jumped Higher Today

Celldex Therapeutics (NASDAQ: CLDX) closed on Monday up 12.8%, with no apparent news to justify the double-digit gain by the biotech company.

The move follows an 8.1% jump on Friday. Sometimes, moves like these are associated with leaks of upcoming data or acquisition talks, but they're also associated with investors thinking there might be those unannounced news events even though they don't actually exist.

In other words, there could be some stock-driving event coming, but it's just as likely -- probably more so -- that day traders are playing with the stock price for their own amusement and benefit. That's easier to do with a biotech, with which the likelihood of clinical trial news or an acquisition is substantially higher than in other related industries.

Source: Fool.com