There were a number of stocks which had declined sharply on Tuesday and one of those was the Northwest Biotherapeutics (OTCMKTS:NWBO) stock. Following a significant announcement from the company with regards to a presentation, the stock suffered from an almighty selloff and declined by as much as 58% for the day.
Trading Data
On Tuesday, NWBO stock plunged 58.25% to $0.76 with more than 77.09 million shares, compared to its average volume of 3.51 million shares. The stock moved within a range of $0.3862 – 1.7300 after opening trading at $1.70.
Major Details
It may now be a good move for investors to perhaps take a closer look at the announcement. The company announced that a presentation was going to be made yesterday at the Frontiers of Cancer Immunotherapy Conference affiliated to the New York Academy of Sciences. The presentation in question is titled “Autologous Tumor Lysate-Loaded Dendritic Cell Vaccination for Glioblastoma”.
In addition to that, it was also noted that Dr Paul Muhlolland who belongs to the University College Hospital was going to be responsible for making the presentation. The presentation was also going to be made only on the New York Academy of Sciences website. It may have been a fairly routine announcement from a biotech company but for some reason investors did not seem to like it and the Northwest stock sank like a stone. It remains to be seen if it can make a recovery today.
Technical Data
NWBO stock is trading below the 20-Day and 50-Day Moving averages of $1.21 and $0.91 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.
