Why Is Vallon Pharmaceuticals (VLON) Stock Up 38% Today

  • Vallon Pharmaceuticals (VLON) stock is on the rise Monday.
  • That comes with heavy trading of shares.
  • The company is working toward a merger with GRI Bio.
The letters "M&A" on a wooden table, surrounded by a calculator and other business items. Representing VLON stock.

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Vallon Pharmaceuticals (NASDAQ:VLON) stock is rising higher on Monday despite a lack of news from the clinical-stage biopharmaceutical company.

Instead, it looks like heavy trading is behind today’s gains. As of this writing, more than 8 million shares of VLON stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 4.7 million shares.

It’s also worth keeping in mind that VLON stock is a penny stock. That comes from its share price trading for less than $1, as well as its low market capitalization of around $6 million. Both of these make it susceptible to volatility, especially during pre-market trading.

Other Recent VLON Stock News

Just because there’s no Vallon Pharmaceuticals news today doesn’t mean there isn’t other recent news to note. For example, the company provided an update on its planned merger with GRI Bio. That merger will have the combined company focusing on GRI Bio’s pipeline of NKT cell regulators.

Considering the recent update, as well as the low price of VLON stock, it makes sense why shares would see volatility in the following days. That could continue with further gains or switch to losses, depending on how trading goes. That’s something to think about before considering a stake in Vallon Pharmaceuticals.

VLON stock is up 38.4% as of Monday morning.

There’s even more stock market news traders need to know about on Monday! That includes why shares of EBET (NASDAQ:EBET) stock are rising, the biggest pre-market stock movers this morning and more. We’ve got all that ready to go at the following links!

More Monday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/why-is-vallon-pharmaceuticals-vlon-stock-up-38-today/.

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