Lightwave Logic (LWLG) stock Continues to Pull Back: Where to Buy?
When it comes to the major gainers in 2021, it is difficult to look past the Lightwave Logic (OTCMKTS:LWLG) stock, which has clocked staggering gains of 1500% so far this year. On Thursday, the stock actually declined by 25% after some of the investors decided to take some of the profits. However, in light of such monumental gains, it might be the right move for investors to look into Lightwave Logic a big more closely.
Last week, the stock came into sharp focus after it announced that it was awarded a new patent in the United States. This particular patent is related to a device that can help in boosting mass volume manufacturing if it is included in advanced integrated photonic platforms.
The granting of the patent is a significant new development for the company and the reaction in the markets towards the Lightwave Logic stock was an indication of that.
The patent is titled “Direct drive region-less polymer modulator methods of fabricating and materials therefor” and is expected to lay the foundations for the development of electro-optic polymers that consume much lower amounts of power. It is going to be interesting to see if the Lightwave Logic stock can maintain its momentum and add to its gains.
Market Reaction:
On Thursday, LWLG stock slumped 25% to $10.85 with more than 3.64 million shares, compared to its average volume of 568K shares. The stock has moved within a range of $9.91 – 14.07 after opening the trade at $14.06 Over the past 52-week, the stock has been trading within a range of $0.56 – 17.24.
