Clearmind Medicine (NASDAQ:CMND) stock is slipping on Thursday after the psychedelic pharmaceutical company’s shares underwent a major rally on Wednesday.
The news that sent shares of CMND stock higher yesterday was a meeting with the U.S. Food and Drug Administration (FDA). The company is seeking to treat Alcohol Use Disorder with a clinical trial of its psychedelics.
News of that meeting spurred an interest in CMND stock on Wednesday. That saw the company close out normal trading hours up more than 40%. That came with some 47 million shares traded compared to a daily average of 1.9 million shares.
CMND Stock Movement on Thursday
Even though the stock rallied yesterday, it can’t maintain all of those gains today. That’s why shares are falling 23.9% as of Thursday morning. That comes alongside some 721,000 shares of CMND stock being traded at that same time.
One thing that investors will keep in mind about CMND is that it is a penny stock. That comes from its prior closing price of $2.93 and market capitalization of only around $5 million. That means the stock is more susceptible to strong volatility, making it a riskier investment.
There are plenty of other stock market stories worth reading about today that don’t have to do with CMND stock.
Fortunately, we have investors covered with our coverage of the latest market happenings! That includes what’s going on with shares of Tarena International (NASDAQ:TCTM) stock, Moolec Science (NASDAQ:MLEC) stock and Atreca (NASDAQ:BCEL) stock today. You can find out more on these matters down below!
More Stock Market News for Thursday
- Why Is Tarena International (TCTM) Stock Down 10% Today?
- Why Is Moolec Science (MLEC) Stock Up 40% Today?
- Why Is Atreca (BCEL) Stock Up 85% Today?
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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.
