IPOS - Blue Water Vaccines stock plunges 50% but still up 278% from IPO price

Blue Water Vaccines (NASDAQ:BWV) shares plunged 50% on Tuesday, hitting a 52-week low, but were still trading 278% above their initial public offering price. Shares of the influenza vaccine developer last changed hands at $34, down 50% from the prior session, at approximately 12:45 p.m. ET. The stock opened at $66.98 and climbed to $69.48 before tumbling to a 52-week low of $22.99 midday. The stock hit a 52-week high of $90.90 on Feb. 22. Blue Water held its IPO on Feb. 18, pricing 2.2M shares at $9 per share in a deal that generated gross proceeds of around $20M.

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Blue Water Vaccines stock plunges 50%, but still up 278% from IPO price