Redhill Biopharma (NASDAQ:RDHL) stock is sliding lower on Thursday but only after the company’s shares come off of a recent rally.
Shares of RDHL stock saw major gains earlier in the week. That came after the Food and Drug Administration (FDA) granted it five-year market exclusivity for Talicia. This is the company’s helicobacter pylori treatment.
That announcement has seen shares of RDHL stock make strong climbs every day this week since Monday. However, the stock seems to finally be running out of steam with today’s dip.
RDHL Stock Movement on Thursday
The early morning trading of RDHL stock has more than 3.5 million shares of the stock changing hands as of this writing. For the record, the company’s daily average trading volume is still above that at roughly 8.9 million shares.
While RDHL stock is slipping today, it’s not something investors will likely need to worry over. Instead, it looks like the stock is simply settling to a more reasonable price after this week’s gains.
RDHL stock is down 27.1% as of Thursday morning. For the record, the stock is down 59.3% since the start of the year.
Investors who want to know more about the latest stock market news today will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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