Stock for InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) has been seeing much chatter amongst market participants, particularly across social media platforms. After a bearish day in the regular hours of trade −0.040 (10.70%), the stock continues its decline into the afterhours . This comes after a week of consistently high gains of a whopping 53.46%, which saw a turn around earlier yesterday, putting out the bullish spell on the stock. Traders continue to speculate in regards to the direction this penny stock will take, and whether or not its upward movement is worth betting on. As the volatility continues, retail investors are eagerly watching to see whether or not the target price will be achieved.
Media Attention on NVIV over the Years
Apart from an announcement to partake in the Wainwright Bioconnect Conference earlier this year, there has been little mention of the company’s affairs which could potentially be linked to this growth spurt, and increased trade volume. The biotech company, which is engaged in research and clinical trials, is one that has frequently garnered media attention in the previous years. NVIV stock tanked nearly 60% back in 2017, after news of the death of a third candidate that had undergone spinal cord implant. Although investigators could not determine a conclusive link between Invivo’s Biotechnology and the demise of the patient, the program was discontinued.
Market Growth Potential
One noteworthy development from yesterday was a research report published yesterday by research and consultancy specialist, A2Z Market Research on the spinal cord treatment market. The study deemed the time frame from 2022 to 2029 as one where “robust expansion” would be experienced across the market. Invivo Therapeutics (NVIV) was profiled within this research, alongside major players such as Pfizer Inc, Norvatis AG, Pharmicell Co, and many others. Given these findings, it is clear that the market anticipates growth in the coming years, and Invivo, being a firm which specializes precisely on spinal cord treatment is poised to share in on these long-term gains.
Conclusion
The NVIV stock has left traders impressed with its high growth trajectory over the prior week. The sudden downturn in the afterhours and volatility is being watched with close anticipation. Invivo, as per a recent market research report, is part of a specific market niche in the biotech realm that expects substantial expansion in the coming years.
