Bolt Projects Holdings Stock Plunges Over 25% In Pre-Market Trading, Day After 557% Surge

Bolt Projects Holdings Inc. (NASDAQ:BSLK) is on a decline in pre-market trading on Thursday, a day after surging over 550%. Check out the current price of BSLK stock here. Market Volatility Strikes Biotech After Record Gains Bolt Projects shares fell 26.54% in pre-market trading to $10.52 on Thursday, despite closing up 556.88% at $14.32 during the regular trading session on Wednesday, as per Benzinga Pro data. The biomaterials company’s extreme volatility followed robust second-quarter earnings and announcement of potential $20 million financing. Strong Revenue Growth Drives Initial Rally The Berkeley, California-based company reported second-quarter revenue of $1.3 million from its Vegan Silk Technology Platform, a 23-fold increase from $56,000 in the prior year period. The company achieved positive gross margins ahead of internal estimates through operational efficiencies and pricing discipline. “Demand for Vegan Silk ...Full story available on Benzinga.com