Vaxxinity (NASDAQ:VAXX) stock is up on Friday with heavy pre-market trading of the biotechnology company’s shares.
That has more than 21 million shares of VAXX stock changing hands as of this writing. This is well above its daily average trading volume of about 1 million shares.
Investors will also note that VAXX stock was down 9.1% on Thursday. That also came with heavy trading as some 8.9 million shares of the company’s stock were traded during normal hours.
What’s Behind the VAXX Stock Movement?
This recent Vaxxinity volatility comes as the company prepares to delist its shares next week. That will result in its shares no longer trading on the Nasdaq Exchange when markets open on May 9.
It provided the following reasons for the decision in a letter to shareholders:
“Being a public company is very expensive and incredibly time-consuming. Choosing to go public is a path many pursue primarily to obtain access to greater institutional pools of capital.”
After this delisting, shares of VAXX stock will start trading on the OTC Market exchange. The company notes it doesn’t guarantee this listing will remain.
VAXX stock is up 38.6% as of Friday morning.
Investors can find more of the most recent stock market news ready to go below!
We offer all of the latest stock market stories for Friday! Among that is why shares of Helius Medical Technology (NASDAQ:HSDT) stock are up, the biggest pre-market stock movers this morning and more. All of that info is good to go at the following links!
More Stock Market News for Friday
- Why Is Helius Medical Technology (HSDT) Stock Up 47% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
- Should You Buy Palantir (PLTR) Stock Before May 6?
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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.
