CytoDyn (CYDY) Continues to See Resistance at Higher Level: What Next?

Over the course of the past year or so, the CytoDyn Inc (OTC: CYDY) stock has been in the radars of several investors on the back of his work in relation to a COVID-19 treatment.

However, in 2021, the stock has not performed particularly and declined by as low as 42% so far. That being said, the CytoDyn stock seemed to be in focus on Friday and managed to record gains of 7.50%. In this situation, it is important to figure out if it could be the start of a recovery for the stock.

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Back on April 8, the company had announced that the COVID-19 long hauler’s study has been enrolled fully. It is, without a doubt, a significant development for CytoDyn and might have been one of the factors behind the latest rally. It now remains to be seen if the stock can actually hold on to this momentum next week.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.