CytoDyn Inc (OTCMKTS:CYDY) Stock In Focus After Recent Developments
Late stage biotech firm CytoDyn Inc (OTCMKTS:CYDY) came back on to the radars of investors earlier on in the week on Wednesday and ended the day with gains of as much as 6% following a key announcement. The stock could come into focus today owing to those gains.
Market Stats
On Wednesday, CYDY stock surged 5.50% at $1.28 with more than 2.99 million shares, compared to its average volume of 2.42 million shares. The stock has moved within a range of $1.1400 – 1.3000 after opening trading at $1.23.
Results from 2021 Annual Meeting
On Wednesday, the company came into focus after it made an announcement with regards to the preliminary results of the vote from the 2021 Annual Meeting of Stockholders. The meeting had been held on Wednesday, November 24, 2021. The company announced that all the four proposals that were put forward at the meeting were approved by the shareholders.
As many as six directors were elected to the Board of Directors at CytoDyn and they are expected to be in charge up until the Annual Meeting of Stockholders in 2022. Another motion was the selection of Warren Averett LLC as the registered independent accounting firm for CytoDyn.
That motion was approved as well. The third motion to be approved was the one related to the compensation of the executive officer at CytoDyn on an advisory basis. Last but not the least, the motion to amend the Certificate of Incorporation of CytoDyn was also approved.
Traders Corner
CYDY stock is trading below the 20-Day and 50-Day Moving averages of $1.29 and $1.56 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.17. The stock is down 15% in the past month.
