Jaguar Health, Inc. (JAGX) is a gastrointestinal products developer operating on Human and Animal health. The JAGX stock price saw a decline of 10.63% to drop at 1.68 a share as of this writing. It seems that there is no particular reason behind this bearish sentiment.
There was no news from JAGX stock to explain the decline, no earnings report from the company, no analyst downgraded or shrank the targeted JAGX stock price. This left some investors wondering what to make of it all.
On February 25, 2021, Monteverde & Associates PC announced a class action settlement on behalf of shareholders of Jaguar Health, Inc. The shareholders were notified in the announcement that Honorable Richard Seeborg will hear the case on May 27, 2021, at 1:30 p.m. Furthermore, the announcement said that shareholder who bought, sold, or held shares of JAGX stock from June 30, 2017, to July 31, 2017, both inclusive, might be affected by the class action settlement.
On February 23, 2021, Jaguar Health launched a website for its wholly owned subsidiary Napo EU. The site contains the information related to COVID-19 as well as the challenges in the distribution of vaccines in Europe as well as its effectiveness and the spread of variants of SARS-CoV-2, mainly responsible for COVID-19.
On February 18, 2021, the company signed MoU with the objective that Jaguar Health will move forward in an Exclusive relationship with a planned Dragon special purpose acquisition company (SPAC). The SPAC is pursuing a listing on AIM Italia and looking forward to targeting NAPO EU. The MoU anticipated the license for NAPO EU for the development, manufacturing, and commercialization of Crofelemer indications in Europe.
Considering the bearish sentiment, things are not working well for the penny stock. Usually, long-term investors don’t pay heed to the ups and downs of the stock rather they focus on the continuous development of the company but still, it is a good practice to do a lot of homework before adding any stock to the portfolio.