Dynavax Technologies Corporation (NASDAQ: DVAX)
Dynavax Technologies wasn't off to the best of starts in the trading session today. When the opening bell rang, the stock was already slightly in the red. From there, we've seen a steady continuation of declines bringing the stock further down into the abyss. However, news just came down the wire that the stock is halted with news pending. Below, we'll talk about what we're seeing in the market, why, and what we'll be watching for with regard to DVAX ahead.
What We're Seeing From DVAX
As mentioned above, Dynavax Technologies isn't having the best of days in the market today. When the trading session opened, the stock was already slightly in the red. From there, the stock has seen further declines, unfortunately pushing it deeper into the red. At the moment (12:32), DVAX is trading at $4.20 per share after a loss of $0.20 per share (4.55%) thus far today.
What's Going On?
As soon as the CNA Finance team received the alert from one of our trading tool partners, we started to dig to see exactly what was causing the movement. In this particular case, there's not much by way of fundamental news, or even rumors. However, there is one thing that we do know, DVAX has been halted.
With the halt, we heard that news is pending. What that news might be, well, there's no telling. However, we do know that it's likely to be big. After all, they don't halt stocks on small news.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DVAX. In particular, we're interested in learning the reason for the halt and seeing just how the stock reopens. We'll keep a close eye on the news and bring it to you as it breaks!
UPDATE - DVAX has announced restructuring plans. This will come with layoffs and a cost of about $3 million.
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