Autonomix Medical (NASDAQ:AMIX) stock is taking a beating on Tuesday after the development stage medical device company saw its shares undergo a rally yesterday.
That came as it provided updates on its pancreatic cancer pain management device, which uses radiofrequency (RF) ablation to reduce the pain of patients with pancreatic cancer. This includes positive results from a clinical trial covering its device.
On top of that, Autonomix Medical also announced a definitive agreement with RF Innovations to license the intellectual property of its Apex 6 Radiofrequency Generator. The deal is set to be completed by the end of the month.
All of this news resulted in shares of AMIX stock rallying 130% during normal trading hours yesterday. That came with heavy trading as some 152 million shares changed hands. For the record, its daily average trading volume is about 3 million shares.
AMIX Stock Movement on Tuesday
Considering the massive rally AMIX stock saw yesterday, it makes sense it would give up some of those gains the following day. This has the stock down 16.7% as of Tuesday morning.
Trading activity this morning has more than 1.3 million shares on the move. That’s still below the company’s daily average trading volume.
Investors will want to stick around for more of the most recent stock market stories on Tuesday!
We have all of the hottest market happenings traders need to know about today! A few examples include what’s happening with shares of Conduit Pharmaceuticals (NASDAQ:CDT), Silo Pharma (NASDAQ:SILO) and Rumble (NASDAQ:RUM) stock today. All of that news is ready at the links below!
More Tuesday Stock Market News
- Why Is Conduit Pharmaceuticals (CDT) Stock Up 73% Today?
- Why Is Silo Pharma (SILO) Stock Up 123% Today?
- Trade of the Day: Buy Rumble (RUM) Stock Call Options as Trump Trades Gain
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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.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
