IPOS - Blue Water Vaccines rallies 25% as broader market sinks

Blue Water Vaccines (BWV) stock rallied 25% midday Monday as the broader market marched into negative territory. Shares of the vaccine maker opened at $3.70 and hit a high of $5 in late morning trading. The shares recently changed hands at $4.71, up 25%, at approximately 12:10 p.m. ET. BWV shares have been highly volatile since their market debut on Feb. 18, which saw its stock soar nearly 540%. The company offered 2.2M shares priced at $9 per share to raise around $20M. The stock tumbled 33% last Wednesday following news that it selling stockholders intended to offer up to 2.34M shares.

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Blue Water Vaccines rallies 25% as broader market sinks