Femasys Stock Plunged 24% Today - Here's Why?

Femasys Inc. FEMY shares fell lower on Wednesday, a pullback from Tuesday's surge in price following the announcement that the company received FDA 510(k) clearance for FemaSeed, an infertility treatment.

What To Know: Femasys stock surged almost 400% on Tuesday on news of the clearance. Trading was halted and resumed several times during the day.

However, shares fell sharply on Wednesday, pulling back from the strength seen on Tuesday. The pullback was also marked by abnormally high trading volume.

According to data from Benzinga Pro, the stock experienced an above-average trading volume of 15.73 million shares compared to its average volume of 6.76 million.

Related Link: Why Blink Charging Stock Is Rising Today

FEMY Price Action: Shares of FEMY closed 23.0% lower at $1.14 at the time of publication, according to Benzinga Pro.

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