CytoDyn Inc (CYDY) Stock Unable To Sustain At Higher Level: Here is Why
After having gone through a pretty rough week, the CytoDyn Inc (OTCMKTS:CYDY) stock managed to make a bit of a recovery on Friday. Last Friday, the stock went up by 7%, however, that was not enough to save the CytoDyn stock from recording a 10% loss for the week.
This morning investors might be interested in the fortunes of the CytoDyn stock and hence, it might be a good move to track it. There was no much news about the company last week but in this context, it might be a good move to take a look at development from earlier on this month. This relates to the five-day proceedings that took place between ProstaGen and CytoDyn, which was related to 3.1 million CytoDyn shares that were held in escrow for some indemnities.
However, in relation to this situation, it was announced earlier in the month that a direct financial obligation had been created that is going to stay off the CytoDyn balance sheet.
Back on June 21, the company had also made a key announcement with regards to its product leronlimab, which has the potential of treating multiple conditions. CytoDyn revealed the preliminary results after it managed to unblind the necessary data from the clinical trial related to the treatment of COVID 19 patients. During the course of the trial, the efficacy and safety of the product were being ascertained. The publication of these results proved to be another considerable boost to the company.
Why Is Good Gaming Inc (GMER) Stock Making So Buzz Over The Past Month?
Approval for a stock uplisting can come as a major boost for most stocks and that is what seemed to have happened with the Good Gaming Inc (OTCMKTS:GMER) stock last week. Back on July 7, the Chief Executive Officer of the company David B. Dorwart announced that the OTC Markets approved the uplisting of the Good Gaming stock to the OTCQB from pink sheet current.
That is a significant development for the company and its stock; hence it came as no surprise that investors piled on to the stock in a big way last week. On Friday, the stock shot up by 56% and ended the week with gains of 200%. In light of such enormous gains, it could be a good idea for investors to keep the stock on their watch lists this week.
An uplisting from pink sheet current to OTCQB is an important one for any company. Companies that are listed OTCQB are in the middle tier of stocks in the over-the-counter markets and are subject to must tougher minimum reporting standards. In addition to that, those companies need to go through annual verifications and undergo a bid test.
Hence, it is easy to see why investors might have more confidence in getting into these stocks when it comes to over-the-counter shares. The CEO stated that since the company is currently looking to get as transparent as possible, the board of directors decided that an uplisting was in the best interests of the company.