NASDAQ:CODX 27 October 2025 - 26 May 2026

Co-Diagnostics shares slipped in premarket trading on Wednesday. The company said late Tuesday it had raised $3 million in a private placement, shortly after the stock surged 43.8% to finish at $1.97. The shares were down 13.3% to $1.71 in extended trading ahead of the regular Nasdaq open. Co-Diagnostics shares jumped after the company said it finished work on a strategy for an assay on the Bundibugyo virus causing the Ebola outbreak in Democratic Republic of Congo and Uganda. But the rally faded as a late financing raised worries about dilution and cash requirements.

Co-Diagnostics’ stock price erupted on Monday after the company unveiled a strategic joint venture in the Middle East. Shares of the small-cap diagnostics firm opened around $0.59 and quickly soared, at one point up 133% to about $0.82 by mid-morningbenzinga.com. The surge only intensified as trading progressed – by late morning the stock was up 148% and still climbing, prompting a wave of retail trader excitement onlinemenafn.com. CODX ultimately closed at $1.07, marking a stunning +206% one-day gainfinance.yahoo.com. For context, the stock had ended the prior trading day at roughly $0.35nasdaq.com, and was down over 70% in the past year before this week’s newstickernerd.com. Volume and retail interest exploded alongside the price. More than 100 million CODX shares changed hands on Oct. 27 – an enormous turnover compared to its typical volume. On Stocktwits and other forums, Co-Diagnostics suddenly became a hot ticker, with sentiment indicators shifting from bearish to “extremely bullish” as traders piled inmenafn.com. The dramatic move put CODX among the day’s top gainers on Nasdaq, alongside a few other small-cap names that saw outsized moves. Such volatility is not unprecedented for micro-cap biotech stocks, but the magnitude is exceptional and reflects a convergence of positive news and