Stock for Agile Therapeutics, Inc. (NASDAQ: AGRX) has been on a downward tumble after a brief rise in the pre-market hours. Seeing a climb of nearly 8% before today’s trade session commencement, the stock remains closely eyed by market participants. After the commencement of the trade session, AGRX had fallen nearly 10.5% in less than 4 hours. Reversing premarket gains, the stock currently trades 7.66% below its previous close. The women’s healthcare company, which focuses on contraceptive products has constantly made the news rounds recently, shifting market perception accordingly.
Anticipation toward Agile Therapeutics Earnings Release
One trigger that explains AGRX’s erratic growth trajectory is its earnings release. This has been set to be out later today, following the close of the regular trade session. Bulls in the premarket had clearly spurred into action, rushing to get hands-on AGRX before an imminent rise. The current market session however saw shifted perceptions, as heightened skepticism brought on a selling spree. Moreover, social media chatter clearly highlights the skepticism that is increasingly surrounding this abrupt growth spurt.
A number of bears in the market have stated intentions to keep afar from AGRX, given its inexplicable nature. Without a substantial anchor which links the stock to an abrupt rise, skeptics say AGRX indicates a potential market manipulation. However, no company filings to the SEC indicate such tactics at play, nor any change in beneficial ownership by insiders. Furthermore, Agile did call in a vote by its shareholders to discuss a reverse stock split. The vote will decide the specific ratio based on which this split will take place upon.
Future Prospects for AGRX
Given the uncertainty surrounding the AGRX stock trajectory, there still remains a high degree of red flags that concerns bears. Agile has released little information about prospective ventures through which it could embark upon growth. As a result, there are few substantial variables based on which traders can bet on long positions. This skepticism, evident across social media chatter points to a likelihood of a swift fallback upon the commencement of the regular trade session.
AGRX has seen a hard tumble in today’s trade session, despite few identifiable anchors to which a trigger could be traced. This follows after a growth spurt seen in the premarket session, which understandably raises concern and skepticism regarding the recent growth trajectory of the stock.