AMST - Why Is Ontrak (OTRK) Stock Down 14% Today?
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Ontrak (NASDAQ:OTRK) stock is falling on Thursday but it’s not actually due to any negative news from the healthcare company.
Instead, today’s dip is simply shares giving up some of the ground they gained yesterday. The company’s stock went through a massive rally on Friday that resulted in its shares climbing almost 95% higher.
That makes the drop the company is seeing today reasonable. It’s typical for a company’s shares to retreat after a major rally as some investors choose to sell the stock while it’s worth more. Others will maintain their positions, which explains why the stock is only falling as far as it is today.
What Was Behind the OTRK Stock Rally Yesterday?
Ontrak saw its surge in price yesterday after posting data from its adoption of PHQ-9 and GAD-7. These are measures for depression and anxiety. The company said it saw a positive influence after integrating these measures of Wholehealth+ program.
That also brought with it heavy trading of the company’s shares on Wednesday. When the day closed, some 182 million shares had changed hands. That’s a massive surge over its daily average trading volume of about 3.3 million shares.
OTRK stock is down 14.3% as of Thursday morning but is up 211.7% since the start of the year.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace is home to all of the most recent stock market news for Thursday! A few examples include what’s happening with shares of Nogin (NASDAQ:NOGN) and Amesite (NASDAQ:AMST), as well as this morning’s biggest pre-market stock movers. You can find all of that at the links below!
More Thursday Stock Market News
- Why Is Nogin (NOGN) Stock Up 17% Today?
- Why Is Amesite (AMST) Stock Up 46% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
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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