Advaxis Inc (NASDAQ:ADXS) Stock Attempts To Rebound After The Recent Fall

Clinical stage biotech company Advaxis Inc (NASDAQ:ADXS) was one of the notable laggards last week in the markets and ended the week with cumulative losses of as much as 15%. The company actually came into focus this past Friday after Advaxis published a letter addressed to its shareholders.

Market Stats

On Friday, ADXS stock closed higher by 2.53% to $0.3772 with more than 3 million shares, compared to its average volume of 7.09 million shares. The stock has moved within a range of $0.3700 – 0.3900 after opening trading at $0.3790.

Advaxis, Inc. Issues Letter to Stockholders

In the letter, the company referred to the possibility of two polar opposite scenarios that the shareholders might have to confront following the voting that is going to take place at the special meeting of shareholders. The voting is going to be related to the possibility of the company’s merger with Biosight.

The meeting had actually taken place last week on November 16 but it has since been adjourned and will now take place on December 7, 2021. The company argued that if the merger goes through then it will lead to a considerably better situation than the alternative.

In the latter, Advaxis went on to state that the merger with Biosight represents an opportunity for the company’s shareholders to be part of a transaction that could transform the fortunes of the company. At this point, it could be a good idea for investors to keep an eye on the stock in the lead up to the all important meeting.

Traders Corner

ADXS stock is trading below the 20-Day and 50-Day Moving averages of $0.45 and $0.49 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.56. The stock is down 25% in the past month.