Sometimes the price action in stocks can be surprising and not make much sense to investors. Despite promising news, stocks may fall and that is what seemed to happen with the Advaxis Inc (NASDAQ: ADXS) stock on Monday.
Yesterday, the company made a major announcement with regards to one of its products; however, it led to a 6% fall in its stock price. On Monday, Advaxis announced that it reached an agreement with the Columbia University Irving Medical Center.
By way of the agreement, Irving Medical Center is going to finance the Phase 1 study that is going to evaluate the effects of the company’s product ADSX 504 in people suffering from prostate cancer. It is a significant development for the company and one that could have far-reaching positive consequences for the company. However, the market reacted negatively to the news. In such a situation, it might be a good idea for investors to keep an eye on the Advaxis stock and see if it rebounds today.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.