VBI Vaccines (NASDAQ:VBIV) stock is rising higher on Tuesday after the commercial-stage biopharmaceutical company filed for bankruptcy last week.
According to a press release from VBI Vaccines, this bankruptcy filing is part of the company’s ongoing restructuring effort. The company has filed for bankruptcy in both the U.S. and Canada.
In addition, VBI Vaccines notified investors of a delisting notice for its shares. When markets open on Thursday, shares of VBIV stock will be removed from the Nasdaq Exchange.
Recent VBIV Stock Movement
Shares of VBI Vaccines stock have been volatile since the company announced its bankruptcy filings last week. That, combined with the delisting news, continues its volatility this morning.
With this comes a 61.8% increase on Tuesday morning after a 33.1% fall on Monday. Investors will also note that the stock was down 89.9% year-to-date when markets closed yesterday.
With the rise in price, this morning comes heavy trading of VBIV stock. As of this writing, more than 27 million shares are on the move. For comparison, its daily average trading volume is about 1.1 million shares. It’s also worth mentioning that its float is 26.73 million units.
There are even more stock market stories traders will want to read about below!
We have all of the hottest stock market news traders need to know about on Tuesday! Among that is what has shares of Lytus Technologies (NASDAQ:LYT) stock up, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the links below!
More Stock Market News for Tuesday
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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.
