INVO Fertility Inc. (NASDAQ:IVF) stock was trading lower Monday after nearly doubling during Friday’s session, as investors appeared to lock in gains following the sharp rally.
The pullback comes after the microcap stock surged 97.58% on Friday, making Monday’s decline consistent with profit-taking and heightened volatility often seen in low-priced stocks after outsized moves.
Acquisition And Nasdaq Update Fueled Friday’s Rally
Friday’s rally followed two key company announcements disclosed in a Form 8-K filing.
The healthcare fertility company revealed that its wholly owned subsidiary, INVO Centers LLC, has consummated the acquisition of 100% of the membership interests of HRCFG LLC. HRCFG previously managed and operated the "Innovative Fertility Specialists" joint venture clinic in Birmingham, Alabama.
