Why Inovio Pharmaceuticals Stock Is Skyrocketing Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) are skyrocketing today, up by 32.6% as of 11:17 a.m. EDT, after surging as much as 48.9% earlier in the session. The biotech didn't announce any news. However, investors appear to be jumping back into the stock after Inovio's share price cratered 35% yesterday in the wake of a tweet by short-seller Citron Research.
Citron's tweet stated the U.S. Securities and Exchange Commission (SEC) should halt trading of Inovio stock and launch an investigation into the "ludicrous and dangerous claim that they designed a vaccine in 3 hours." The short-seller predicted that Inovio's share price would fall to $2, adding that "investors have been warned."
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Source Fool.com
