The stock is on track to end a seven-session winning streak.
Shares of the acquisition firm have spiked more than 15 fold since May 6, with this month's surge beginning after MGT announced on May 9 plans to appoint John McAfee as CEO, MarketWatch reports. McAfee founded antivirus software company McAfee, which Intel (INTC) acquired in 2010.
Additionally, current MGT CEO Robert Ladd purchased a 5.01% stake in vitro diagnostic company Venaxis (APPY), according to a regulatory filing, MarketWatch adds. The stake includes a 2.89% stake indirectly owned by MGT.
Venaxis stock is down 2.71% to $4.31.
About 68.07 million shares of MGT have been traded so far today, well above the company's average trading volume of roughly 11.56 million shares per day.