Why Sorrento Therapeutics Stock Is Sinking Again Today
Shares of Sorrento Therapeutics (NASDAQ: SRNE) were sinking 11.5% lower as of 11:34 a.m. EDT on Wednesday. There weren't any new developments to cause Sorrento's shares to fall. Instead, it appears that investors continued to think that the stock's huge gain following the drugmaker's announcement last week of promising preclinical results for an experimental COVID-19 antibody might have been too much too soon.
Extreme volatility is par for the course with small biotech stocks like Sorrento. Good news gets investors all excited. Then that excitement often fades to some extent as they fully digest the news.
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