Will Galecto Stock Shareholders Get Crushed By A Round Trip?
Shares of Galecto, Inc. (NASDAQ:GLTO) staged a nasty reversal on Thursday. The stock was so volatile that the trading was halted by the exchange a few times. This is done to give people a chance to step away from the frenzy and think about their decisions. GLTO opened at $5.00 and in the morning the bulls were firmly in control. They took it all the way up to $16.41. But before the day ended, the bears took over. They overpowered the buyers and drove the shares all the way down to $8.00. This was the closing price. Friday morning, shares are trading lower. If they fall to the $5.00 level, they will have made a round trip.