Will InVivo Therapeutics Holdings Corp (OTCMKTS:NVIV) Get Back Above $2 Per Share
The stock of InVivo Therapeutics Holdings Corp. (OTCMKTS:NVIV) has been highly volatile recently as it finally managed to stop descending the charts and burst in price on November 18, going above the $2 mark.
NVIV continued to move through the month in a stable maner hovering around $2 per share, but suddenly started dropping with the beginning of this month and nested at a price as low as $1.54 On December 6, before starting to rise again.
While the stock added a mere 3.25% to its value in the first day of this week, a press release that assured investors that everything is going as planned and some people were even promoted, led to a higher jump in price in yesterday’s session.
With the news that Robert Ham and William D’Agostino were promoted to Senior Director, Quality and Vice President, Manufacturing & Engineering respectively for their hard work, the stock of the company gained a decent 11.95% in value on a low volume that generated $282 thousand in trade value.
A probable reason for the climb of the stock that is still running up since today’s open was the fact that the PR of the company sneaked in information that their first clinical trial is scheduled to be ready to enroll patients in the next quarter as he quoted Interim CEO Michael Astrue in the press release.
Since the market opened today, NVIV‘s stock has been climbing and is currently 14.04% up, nested at $2.03 per share. The massive amount of shares that is being traded, however, might prove to be a problem, causing the price to sink below $2 by the end of the session.
In any case, be sure to do a lot of due diligence and weigh out the risks before rushing in buying, despite the decent financial backing that NVIV has.
Another gainer in yesterday’s session was the stock of TheDirectory.com, Inc. (OTCMKTS:SEEK) who added another session in the green to their upward run with a good 21% gain in price. Marani Brands, Inc. (OTCMKTS:MRIB) on the other hand crashed after the good gain in Monday, losing 23% of its value.