CytoDyn (CYDY) Stock Continues to Trade in a Narrow Range

In recent times CytoDyn Inc (OTCMKTS:CYDY) has traded within range and it could be a good move for investors to take a look at what might be going on with the company.

The company, which came into prominence with its potential COVID 19 treatment leronlimab, has attracted the ire of its shareholders in recent times. Earlier this month, a shareholder brought a derivative action against the company for having given out misleading information about its product leronlimab.

The shareholders stated that a company’s shareholder had participated in an interview in which he said that CytoDyn was going to be part of federal government programs meant for fast-tracking virus related treatments. That had led to a significant rise in the CytoDyn stock price however eventually leronlimab was not made a part of Operation Warm Speed. At this point, it could be a good idea to keep an eye on the stock and watch for any possible signs of a breakout.