While it is true that stocks often go on strong rallies despite there being no news, it is also true that stocks can also fall sharply without any news and that brings us to the subject of Nymox Pharmaceuticals Corporation (NASDAQ:NYMX).
There has been no news about the company in many weeks but the stock suffered from a selloff on Wednesday and went down by as much as 8%. While there is no news, it might still be helpful to take a look at a development with regards to Nymox from back in March this year.
At the time, the company provided an update with regards to work that it had accomplished with regards to its regulatory filing preparation. Nymox announced that at the time that it was preparing for submitting an application for approval of its product Fexapotide Triflutate at some point in the summer of 2021.
The company also noted that its management was going to provide the exact date on which it was going to complete the filing. The fact that the date has not been announced yet may have been one of the reasons why investors are now growing jittery. At this point, it could be a good idea to keep an eye on any announcements from Nymox.
Market Reaction:
On Wednesday, NYMX stock fell by 8.30% to $1.55 with more than 464k shares, compared to its average volume of 370k shares. The stock has moved within a range of $1.5300 – 1.7350 after opening the trade at $1.73. Over the past 52-week, the stock has been trading within a range of $1.4200 – 4.2300.
 Stock Continues to See Selling Pressure: What Next?){kind=link}