CytoDyn (CYDY) Stock Volatility Signals More Uncertainty Going Forward

Volatility can be a curse or a boon and hence, it is no surprise that there are investors who are quite interested in such stocks.

One of the stocks to have exhibited considerable volatility this week is that of CytoDyn Inc (OTC: CYDY). The company, which is currently in focus due to its work on the COVID-19 medicine leronlimab, saw its stock fall by as much as 11%. However, it should be noted that much of the fall is attributed to the fact that many investors decided to take their profits after the CytoDyn stock recorded gains recently.

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On Wednesday, the company made a major announcement that could prove to be a boost to the CytoDyn stock in the near term. CytoDyn announced yesterday that it signed a supply and distribution deal specific to the Brazilian market with Biomm SA. The deal is going to allow the company to sell its product leronlimab once it gets regulatory approval.

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.