Why Alzamend Neuro Stock Fell More Than 14% Today
Shares of biotechnology name Alzamend Neuro (NASDAQ: ALZN) were down on the order of 14.3% in Monday's trading, following through on Friday's intraday reversal of a big news-driven gain. With time to put that news into the proper context, investors still see the company's stock as being overvalued.
Monday's sell-off is in sharp contrast to Friday's rally, which at one point carried shares up as much as 44% before peeling back to what was essentially breakeven. The initial surge was sparked by news that Alzamend Neuro's experimental Alzheimer's disease treatment AL002 didn't present any toxicological concerns in early-stage testing in mice.
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Source Fool.com
