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Arcadia Biosciences' stock up on heavy volume again, but pulls way back from earlier peak

Tomi Kilgore

Shares of Arcadia Biosciences Inc. rose in active trading again on Tuesday, but pulled back sharply from an earlier peak, as the rocket ride of the past two sessions appears ready for a pause. The stock's gains have come after the food ingredients and nutritional oils company's joint venture with Biocerese Crop Solutions Corp. , Verdeca, said last week that its HB4 drought-tolerant soybeans received approval from the U.S. Department of Agriculture. The stock was up 2.2% on volume of of 1.2 million shares ahead of Tuesday's open, but had been up as much as 25.5% earlier in the premarket. The stock had run up 244% over the past two sessions, including a 124.4% rally on volume of 56.7 million shares on Friday and a 53.7% surge on volume of 38.8 million shares on Monday. The stock has now more than doubled year to date through Monday (up 119%), while the S&P 500 has gained 15.0%.