Rumors Swirling Around Sequenom (SQNM)

A day trading favorite, Sequenom (Nasdaq: SQNM) is spiking 12% or $0.25 to $3.29. Briefing Trader is reporting that the spike is due to rumors that Sequenom might put itself up for sale.

Sequenom is an extremely volatile stock that has traded from a low of $2.83 to a high of $25.99 during the past 52 weeks. Sequenom's market cap stands at $204.89 million.

Many shorts have cashed in on SQNM as 35% of its float is short the stock.