Cyclacel Pharmaceuticals (NASDAQ:CYCC) stock is falling on Tuesda,y but it’s not due to any negative news from the clinical-stage biopharmaceutical company.
Instead, shares of CYCC stock are retreating after undergoing a rally on Monday. That rally came about after the company announced that it had regained compliance with Nasdaq listing standards.
Cyclacel Pharmaceuticals is no longer in danger of being delisted after managing to boost its share price above the $1 minimum bid requirement. That news excited investors yesterday and saw shares of CYCC stock close out normal trading hours up 28.1%.
CYCC Stock Movement on Tuesday
It makes sense that shares of CYCC stock would give up some of the gains it saw on yesterday’s news. Shares are starting to settle after coming off that high and as the hype diminishes.
It’s worth mentioning that only about 59,000 shares have changed hands as of this writing. That’s still below its daily average trading volume of about 125,000 shares.
CYCC stock is down 9.4% as of Tuesday morning but is still up 17.7% since the start of the year.
Investors seeking out even more of the hottest stock market news today are in the right place!
We have all of the latest stock market stories worth reading about on Tuesday! That includes everything happening with shares of Grifols (NASDAQ:GRFS) stock, Elicio Therapeutics (NASDAQ:ELTX) stock and Sentage (NASDAQ:SNTG) stock today. You can catch up on these topics at the links below!
More Stock Market News for Tuesday
- Why Is Grifols (GRFS) Stock Down 38% Today?
- Why Is Elicio Therapeutics (ELTX) Stock Up 11% Today?
- Why Is Sentage (SNTG) Stock Up 86% 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.
