Enzolytics (ENZC) Stock Suddenly Falls 41%: What Went Wrong?

The Enzolytics Inc (OTC: ENZC) stock was in action among investors during late trading on Wednesday and experienced a considerable slump.

Following the action on Wednesday, the stock slumped by as deep as 40%. In this regard, it is also necessary to point out that the stock has dropped sharply by as low as 85% from its 52 weeks high of $0.96 a share. There was no fresh news with regards to the company yesterday but back in the middle of March, Enzolytics had made an important announcement.

Related:  Why is Quanta Inc (QNTA) Stock Getting So Much Attention

At the time Enzolytics announced that it had formalized the corporate legal documentation with regards to the Articles of Association by way of which it formed International Medical Partners. The company in question is a limited liability company based out of Bulgaria. Enzolytics is going to be a 50% owner in the new entity. The agreement was reached by the company with businessmen who are based out of Bulgaria.

Jack Dawkins

Finance and Tech Contributor