NeuBase Therapeutics (NASDAQ:NBSE) stock is dropping on Thursday but that’s only due to the company coming off a massive rally yesterday.
Investors will note that NBSE stock soared 107% higher on Wednesday after Symetryx announced a 20% stake in the company. The company’s shares were bought in the open market and the stake has encouraged negotiations with members of NeuBase’s Board of Directors.
Another thing that investors will remember is that NeuBase Therapeutics is currently undergoing a strategic review. That has caused volatility in the stock and is part of the reason that Symetryx is taking a stake in the company.
Here’s a statement from Symetryx concerning its investment in NBSE stock:
“As the largest shareholder of Neubase, we would like to contribute to this review process and ensure that shareholder money and value is preserved. We believe that Symetryx is in a position where we can help create substantial value for Neubase shareholders.”
NBSE Stock Movement on Thursday
It makes sense that investors are seeing shares of NBSE stock fall today. The company’s stock was unlikely to maintain its massive gains seen on Wednesday, even with those coming alongside the Symetryx news.
As for Thursday morning trading, some 764,000 shares of NBSE stock have changed hands. The company’s daily average trading volume is about 2 million shares. The stock is also down 26.9% as of this writing.
Investors can read more about the latest stock market news today down below!
We’re offering up all of the biggest stock market stories traders need to know about on Thursday! That includes what has shares of Sportsman’s Warehouse (NASDAQ:SPWH) stock, American Rebel (NASDAQ:AREB) stock and China SXT Pharmaceuticals (NASDAQ:SXTC) stock on the move today. All of that news is ready to go at the links below!
More Stock Market News For Thursday
- Why Is Sportsman’s Warehouse (SPWH) Stock Down 23% Today?
- Why Is American Rebel (AREB) Stock Up 40% Today?
- Why Is China SXT Pharmaceuticals (SXTC) Stock Up 24% Today?
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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.