Shares of Second Sight Medical Products Inc. shot up early this month following the approval by the U.S. Food & Drug Administration for the Sylmar company’s Argus IIs retinal prosthesis system.
The stock price climbed by nearly 1,000 percent from the close of market on March 4 when the price was $1.43 to close on March 9 when it was $15.48.
However, since then the stock price has plummeted after the company announced a private placement of its stock. The share price closed at $8.82 on March 24, the day the private placement was announced.
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