IPOS - Blue Water Vaccines stock tumbles 30% marking second day of declines

Blue Water Vaccines (NASDAQ:BWV) shares tumbled 30% Wednesday as the stock continued to decline after soaring over 500% during its market debut last week. The stock opened at $47.39, falling to $32.55 before shooting up to $51.80 and then sliding into the lower $40 range. Shares of the vaccine developer last changed hands at $40.01, down 30%, at approximately 1:45 p.m. ET. On Tuesday, shares of Blue Water soared as high as $90.90 before closing at $56.97. 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 market debut. 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 tumbles 30%, marking second day of declines