It is perhaps not a surprise that the Kaleido Biosciences (NASDAQ:KLDO) stock has been in the middle of a free fall over the course of the past week and during the period, it has gone down by a staggering 63%. It is not hard to figure out why the stock may have tanked.
Trading Data
On Thursday, KLDO stock fell 3.70% to $0.29 with more than 65.16 million shares, compared to its average volume of 5.04 million shares. The stock moved within a range of $0.2900 – 0.4600 after opening trade at $0.4192.
Major Trigger
After all, Kaleido is all set to wind down its business and stop all operations. However, April 28 is expected to be a major date for the company as well as investors since the delisting is going to take place on that day. It should be noted that the action from Kaleido is of a voluntary nature.
The news obviously came as a source of pessimism and the stock tanked hard. However, at the same time, it may be interesting to note that the stock also attracted considerable interest from retail investors amidst all the chaos.
Many day traders had been trying to boost the stock and millions of shares changed hands last week amidst heavy trading. It may be a good idea for investors to perhaps consider keeping an eye on the stock and the associate price action.
Technical Data
KLDO stock is trading below the 20-Day and 50-Day Moving averages of $1.07 and $1.43 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.89.
