Cassava Sciences (NASDAQ:SAVA) stock is a hot topic among traders on Tuesday alongside a few important pieces of news that investors need to know about this morning.
First off, traders will note that SAVA is a trending stock today. This had it claiming one of the top 10 spots on Yahoo Finance’s Trending Tickers tab earlier this morning.
While interest has waned a little since then, investors are still wondering what’s behind the extra attention for the stock. One thing that’s worth noting is that SAVA hit a new one-year high yesterday.
That saw shares of SAVA stock rise as high as $40.71 during normal trading hours yesterday. However, the stock couldn’t maintain that increased price and closed out Monday at $35.08 per share.
SAVA Stock News
On top of this, Cassava Sciences announced that it is dropping a defamation lawsuit against four short sellers. These short sellers claimed its Alzheimer’s drug was based on fake results.
Cassava Sciences is dropping the lawsuit after the medical professor whose research was the backbone of their drug was charged with fraud. It’s also worth noting the case was already dismissed once by a judge in March before Cassava Sciences refiled in April.
SAVA stock is down 3.6% as of Tuesday morning.
Investors will want to keep reading for more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Tuesday! Among that is what’s happening with shares of Palantir (NYSE:PLTR), Aqua Metals (NASDAQ:AQMS) and SunPower (NASDAQ:SPWR) stock today. You can catch up on that news at the links below!
More Tuesday Stock Market News
- Palantir News: DA Davidson Just Raised Its Price Target on PLTR Stock
- Why Is Aqua Metals (AQMS) Stock Down 27% Today?
- Why Is SunPower (SPWR) Stock Down 44% Today?
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.
