If you are currently looking into the possibility of investing in pharmaceutical stocks then it may be a good idea to consider taking a look at the Vallon Pharmaceuticals (NASDAQ:VLON) stock this morning.
Market Reaction
On Friday, VLON stock surged 101% to $2.27 with 172.65 million shares, compared to its average volume of 3.24 million shares. The stock moved within a range of $1.8600 – 2.6800 after opening trade at $2.42.
Vallon Pharmaceuticals Announces Review of Strategic Alternatives
This past Friday the stock had come into considerable focus among investors and ended the day with gains of as much as 100% amidst heavy interest. The rally in the stock came about after Vallon announced on Friday that it was considering some strategic alternatives. In a press release, the company noted that it had come up with a plan that was squarely meant for unlocking more value for investors.
The company announced that it was collaborating with the firm Ladenburg Thalmann& Co for the purpose of coming up with the best possible strategic alternatives. Such a development can often bring about a sense of optimism among investors and that is what happened with regards to the Vallon stock on Friday.
However, it is going to be interesting to see if the stock can hold on to its momentum and actually add to its gains today. It may be a good time to add the stock to your watch lists.
Traders Review
VLON stock is trading below the 50-Day and 200-Day Moving averages of $4.23 and $5.34 respectively. However, the stock is trading above the 20-Day moving average of $2.01. The stock is up 4% over the past month.
