GeoVax Labs is one of the biotech companies that do not participate in the race for COVID-19 vaccine development. However, other infectious and oncological diseases make the company busier than ever. Due to developing vaccines against them make GeoVax Labs’ stock soar as investors see the future potential for effective treatment.
For instance, today OTC: GOVX surges 62% by increasing daily volume to 2.4 million shares. Due to filing for an equity offering GeoVax Labs manages to lift demand for its penny stock.
Before GOVX rises above $2 current stockholders might hold newly bought shares for a while to make quick profits with little funds invested.