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

On the final trading day of the week, it might be a good idea for investors to take a look at some of the stocks which made notable upward moves on Wednesday.

Market Stats

On Wednesday, ADXS stock surged 11% at $0.40 with more than 5.56 million shares, compared to its average volume of 6.84 million shares. The stock has moved within a range of $0.3600 – 0.4199 after opening trading at $0.36.       

Recent News

There was no news about the company on Wednesday but the stock managed to end the day with gains of as much as 11% nonetheless. The rally in the stock might have come about in reaction to the announcement from Advaxis Inc (NASDAQ:ADXS) on Monday with regards to the receipt of a letter from NASDAQ. The letter, which was sent by the NASDAQ Hearing Panel, stated that Advaxis had been granted an extension up until December 20, 2021 for completing the business combination with Biosight Ltd.

In addition to completing the transaction, the letter also noted that Advaxis would also need to be in compliance with all the rules pertaining to an initial listing on the coveted NASDAQ Capital Market. It should be noted in this regard that earlier on this year on July 6, Advaxis had announced that it had signed a merger agreement for a business combination with Biosight. Biosight is a privately held pharmaceutical company wand based out of Israel.

Traders Corner

ADXS stock is trading below the 20-Day and 50-Day Moving averages of $0.43 and $0.48 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.55. The stock is down 14% in the past month.