CytoDyn (CYDY) Lost All The Momentum As Investors Turn Bearish

Not too long ago, the CytoDyn (OTC: CYDY) stock had been seen as a viable coronavirus play by many investors due to its work on a COVID-19 medicine.

However, things have changed quite dramatically in recent times, and the stock’s performance this month has been quite poor. The CytoDyn stock has tanked by as low as 50% so far this month and that might have been triggered by an announcement from the company earlier on this month.

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CytoDyn recently released critical data with regards to its product Leronlimab but the numbers proved to be underwhelming. More importantly, the numbers failed to hit the all-important endpoints. In such a situation, it is easy to see why the stock performed so poorly this month. It was a significant setback for CytoDyn. However, it now remains to be seen if the company makes further announcements that might come as a boost for the stock.

Jack Dawkins

Finance and Tech Contributor