May. 23 at 5:56 AM
$NBY is setting up for a potential breakout. After selling its Avenova eyecare business for
$11.5 million, NovaBay Pharmaceuticals now has a market cap of just
$3.43 million, suggesting the stock may be undervalued relative to its cash position. With a float of approximately 5.82 million shares, any positive news could trigger a significant price movement. Technical indicators show a recent uptick, and if momentum continues, a short term target of
$1.00 is plausible, with potential for further gains. Given the company’s current valuation and share structure,
$NBY could be poised for a substantial move.
