One of the stocks to have made a remarkable turnaround in recent days is that of Novan Inc (NASDAQ: NOVN). Over the course of last week, the stock has rallied strongly and gone up by as high as 60%.
More importantly, the stock hit its highest level in 52 weeks on Thursday and it is likely going to be on the radars of many investors today. The rally in the stock commenced after a major announcement from the company back on January 29.
On that day, the company announced that it received a letter from The NASDAQ Stock Market LLC that indicated that the Novan stock had regained compliance. The company had received a warning with regards to the minimum bid price requirements of its stock. The fact that it regained compliance means that the company is going to continue to trade on NASDAQ without any threat of being delisted. That has naturally led to renewed investors’ interest in Novan.