On Thursday, shares of the recent public debutant, Blue Water Vaccines Inc. (BWV) declined steeply to an all-time low. The vaccine maker’s stock plunged down by a mammoth 82.76% to register its all-time-low of $9.90. Following this steep decline, the stock rebounded in today’s premarket, April 8, 2022. At the time of writing, BWV was trading at a value of $13.97 with an increase of 37.36%.
What’s Going on with BWV?
The biopharmaceutical company recently made its public debut with IPO on February 18, 2022. Offering $2.2 million shares at a price of $9 per share, the company raised $2 million from its Initial Public Offering. The debut session reported a huge uptick of 538% as the stock closed the session at $57.40 per share. Since then, the stock roughly maintained the price level with occasional increase and decrease. But on Thursday, BWV plunged like never before, as it went down to its all-time-low since the IPO.
No official news from the company was responsible for the sudden downfall of the stock. The stock’s collapse, thus, seems to have been sparked by external factors. Social media discussions and stock sentiments among other reasons might have been the drivers behind the sell-off.
Currently, the stock has rebounded in today’s premarket as investors have begun buying the dip in order to make some profits.
How Does the Market Look?
There is a little too much going on in the wider market. Federal reserves’ increase in interest rates, soaring inflation, instability due to the Russian invasion of Ukraine, supply chain delays and constraints, resurgence, and the prolonged impact of Covid-19 and whatnot. But focusing on the vaccines market, the U.S. FDA is considering the need for broader use of Covid-19 booster shots. With decreasing efficiency of the booster shots, the current vaccines are near to being rendered not functional. Moreover, a peer-review study revealed a stark decline in the efficacy of top Covid-19 vaccines in preventing the infection.
Presently, seasonal vaccines go under customization every year to cope with the strains considered most dominant. In times when the need for a multifunctional and broader vaccine is of utmost importance, BWV is working on a new approach. The company’s vaccine design is based on groundbreaking mathematical models and research. Working on a universal flu vaccine, the company has undertaken a huge task. If successful, BWV will mark history by creating the holy grail of vaccines.
After a huge sell-off yesterday, BWV stock is currently recovering as investors are buying the sudden dip.