AVP stock is down by more than 60% over the past 24 hours, as investors worry about the company’s health.
The stock is also down by about 70% over last year, and its stock price is up about 30% in the past 12 months.
The company is also seeing more issues with its delivery systems, which have caused issues for patients.
AVP CEO, Michael Krasner, said on Thursday that the company is “still working to fix” these issues.
I will not be buying Avitas stock until we fix our delivery issues.
The CEO of Avitas, Michael A. Krasners, tweeted on Thursday morning.
I am going to continue to buy Avitas through the end of the week.
In a statement to Reuters, Krasers said that Avitas is working to “re-evaluate its delivery model” and “continue to improve our quality control processes.”
The company’s CEO, Dr. William R. Woll, also released a statement Thursday saying that he is “disappointed in the recent actions of Avita.”
Avitas has not yet released an explanation for its delays.
The shares have fallen more than 70% since the company began trading in late October.
The S&P 500 has gained nearly 2,000 points since the start of the year.
For the full story, read this Wall Street Journal article.