IPOS - Blue Water Vaccines stock soars 58% before diving into negative territory

Newly public Blue Water Vaccines (NASDAQ:BWV) stock was halted several times Tuesday as shares soared 58% early trading before tumbling midday. Shares of the vaccine maker opened at $67.50 after closing at $57.40 on Friday. The stock soared 58% to hit a session high of $90.90 Tuesday morning before reversing course and heading south. Shares last changed hands at $51.01, down 11%, at approximately 1:00 p.m. ET. Blue Water, which is working on a universal flu vaccine, went public on Feb. 18 after pricing 22.2M shares at $9, raising approximately $20M. The stock rocketed 538% following its IPO. For a more in-depth look at Blue Water, check out SA contributor Avisol Capital Partners’ “Blue Water Vaccines: Advancing a Durable Universal Flu Vaccine.”

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Blue Water Vaccines stock soars 58% before diving into negative territory