MCET might be on the move again.
Already having experienced a nice early-2011 run, shares of MultiCell technologies have been moving up again on increasing volume and touched prices on Monday that would make MCET a near-double in just over a week's time.
Monday's trading action could be indicative that some news may be close to being released - no news accompanied the previous early-year run - but it's also possible that the move is simply the result of day and momentum trading.
There will be a whole new slew of eyes on MCET on Tuesday, however, since the stock made the Yahoo! Finance home page under the "Bullish" column for 'Community Sentiment.'
Aside from the short term trading aspect of this volatile penny play, MCET also holds some long term potential.
The two pipeline candidates far enough along to create buzz are MCT-125, a treatment for fatigue in MS patients (a Phase II product) and the Ideal BioStent, which was recently purchased by Multicell's majority-owned subsidiary Xenogenics.
It's been a while since MultiCell has released significant news, and any relevant company update could have this stock trading up by a very significant percentage; even moreso than the short term double.
Keep an eye on MCET this week - volume and price movement looked good on Monday.
Disclosure: Long MCET.