NLS Pharmaceutics (NASDAQ:NLSP) stock is down today, but that’s only after the clinical-stage biopharmaceutical company’s shares underwent a massive rally on Tuesday.
Shares of NLSP stock closed out Tuesday, the prior day of trading due to the Juneteenth holiday on Wednesday, up 82.1%. The stock also saw heavy trading, with more than 302 million units traded. For the record, its daily average trading volume is about 6.5 million shares with a float of 19.7 million units.
That major rally came without any clear news from the company. Instead, it looked like speculative traders were taking an interest in the shares. NLSP being a penny stock does not help matters. This opens it up to manipulation from certain traders.
NLSP Stock Movement Today
Considering the recent rally and lack of news behind it, it makes sense that shares of NLS Pharmaceutics stock are down today. This has more than 2.4 million shares of the stock changing hands as of this writing.
NLSP stock is down 22.6% as of Thursday morning. However, traders will note that the company’s shares were down 54.2% since the start of the year when markets last closed. Keep that in mind when considering an investment in NLS Pharmaceutics today.
There are plenty of other stock market stories that traders will want to read about below!
We are offering all of the hottest stock market news investors need to know about on Thursday! That includes all of the latest news concerning shares of Avrobio (NASDAQ:AVRO) stock, Tempest Therapeutics (NASDAQ:TPST) stock and SMX (Security Matters) (NASDAQ:SMX) stock today. You can catch up on all of this at the following links!
More Stock Market News for Thursday
- Why Is Avrobio (AVRO) Stock Moving Today?
- Why Is Tempest Therapeutics (TPST) Stock Up 45% Today?
- Why Is SMX (Security Matters) (SMX) Stock Up 70% Today?
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Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
