Endo International plc (NASDAQ:ENDP) Stock Plunged 25% in a Week: What Next?
The Endo International plc (NASDAQ:ENDP) has been in the middle of a sustained decline over the past week and in that period, it has declined by as much as 24%. The decline in the stock may be quite alarming for investors but at the same it cannot be overlooked that there has been no news about the company in the past week.
The last major news about the company had emerged back on June 24, 2021 when Endo International made an announcement with regards to its product Endo Aesthetics’ Qwo. The product, which had been approved by the United States Food and Drug Administration back in 2020, is meant for treating cellulite on the buttocks of women.
The company announced that it was going to make a presentation related to the data from the studies into the product at the Cosmetic Bootcamp Summer Event. In this regard it is also necessary to point out that as many as three e-posters are going to be made available by Endo International at the event. It was a major development for the company and one that might have brought the product into sharp focus among those who are interested in the cosmetic products industry.
Market Reaction:
On Thursday, ENDP stock fell 5% at $3.71 with more than 9.95 million shares, compared to its average volume of 3.64 million shares. The stock had moved within a range of $3.6500 – 3.8450 after opening the trade at $3.69. Over the past 52-week, the stock has been trading within a range of $2.7100 – 10.8900.
