InVivo Therapeutics (NASDAQ:NVIV) stock is rocketing higher on Tuesday despite a lack of news from the clinical-stage biomaterials and biotechnology company this morning.
Instead, it looks like heavy trading of NVIV stock is behind today’s movement. As of this writing, more than 8 million shares of the stock have changed hands. That’s a massive surge in trading volume compared to InVivo Therapeutics’ daily average of about 107,000 shares.
While there are no new press releases or filings with the Securities and Exchange Commission (SEC) today, that doesn’t mean NVIV is moving without reason. InVivo Therapeutics’ shares have been volatile ever since the company filed for Chapter 11 bankruptcy last week.
Recent NVIV Stock Movement
While shares of NVIV stock are up 61.2% on Tuesday morning, traders will note that comes after a 26% decline during normal trading hours on Monday. It’s also worth mentioning that NVIV was down 71.9% year-to-date when markets closed yesterday.
The bankruptcy filing last week making NVIV stock unstable makes it a risky investment for traders. Especially as the future of the company is unknown. InVivo Therapeutics wants to continue operations during the bankruptcy and is also considering selling some of its assets. However, it’s not clear how much longer it will be around.
Investors looking for more of the most recent stock market stories are in the right place!
InvestorPlace is home to all of the hottest stock market news that investors need to know about on Tuesday! We have all of the biggest pre-market stock movers this morning, the latest earnings data from Palantir Technologies (NYSE:PLTR) and more. All of that news is ready to go at the links below!
More Tuesday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- PLTR Stock Alert: Palantir Surges Double-Digits on Upbeat Q4 Results
- TFG Stock IPO: When Does Fortegra Go Public? What Is the Fortegra IPO Price Range?
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On the date of publication, William White did not have (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.
