Why Sorrento Therapeutics Stock Is Jumping Today
Shares of Sorrento Therapeutics (NASDAQ: SRNE) were climbing 4.5% as of 10:45 a.m. EDT on Monday. The small biotech didn't report any news. Instead, it appears to be the result of the rise in the overall stock market as well as investors buying on the dip after Sorrento announced on Friday plans to acquire SmartPharm Therapeutics.
Today's jump for Sorrento is basically just noise that investors can ignore. It doesn't mean that the outlook for the company has changed in any way.
Image source: Getty Images.
Source Fool.com
