What is AYTU - bioscience stock?
AYTU stock is the ticker symbol for Aytu BioScience, a healthcare company that focuses on commercializing novel products in the field of urology, as well as other medical specialties. The company's primary focus is on products that address significant unmet medical needs, and it works with leading experts in their respective fields to develop and commercialize these products. Aytu BioScience also provides contract manufacturing services to other healthcare companies. The company listed on NASDAQ exchange in 2019.
AYTU Bioscience stock sentiment case study
In the period from February 25 to March 9, 2020, AYTU Bioscience Inc. (NASDAQ: AYTU) was only mentioned in social media 1-2 times per day. Then, on March 10, shortly after noon (UTC), an announcement was made about the company having secured an exclusive U.S. distribution agreement for COVID-19 point-of-care rapid tests.
A burst of activity in social media followed this announcement immediately. StockGeist displayed 382 messages related to AYTU by 13:00 on the same day. Within the next hour, a total of 565 mentions were observed. Still three hours later, the activity in social media peaked to 2600+ messages received between 17:00 and 18:00.
Meanwhile, the price of AYTU shares followed exactly the same pattern. For three consecutive weeks, the closing price was on a steady decline from 0.79 USD on February 14 to 0.35 USD on March 9, 2020. Then, on the day the exclusive distribution agreement was announced, the share price jumped from 1.30 USD at the opening all the way to 2.05 USD at the closing. One could argue that such a prominent volatility was closely related to the burst of activity in social media on AYTU.
