Why Shares of Quantum-Si Rose 11.6% on Friday

Shares of Quantum-Si (NASDAQ: QSI) climbed 11.6% on Friday. The stock opened at $3.95 and climbed to $4.41 by 1 p.m. ET, but not before detouring to its 52-week low of $3.785 about an hour after the opening bell. It's a long way from its 52-week high of $22.41, though the stock has only been trading on the Nasdaq Stock Market since June, when it went public via a special purpose acquisition company (SPAC).

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The company specializes in proteomics, the study of the large number of proteins in biological systems. Quantum-Si helps drug companies by using a specialized semiconductor chip to do next-generation protein sequencing of single molecules to help speed drug discovery and analysis beyond the level of DNA sequencing.

Source Fool.com