Bausch + Lomb Corporation Stock Drops 8% After Privatization Effort Ends

(RTTNews) - Bausch + Lomb Corporation (BLCO) is down by 8.45 percent during Thursday's trading, falling $1.56 to $16.19. The stock dropped after the company announced that its efforts to take the company private with a third-party buyer, as part of a broader strategy to separate from Bausch Health Companies Inc., have been completed without resulting in a transaction.

BLCO is currently trading at $16.25, down $1.50 from the previous close of $17.75. The stock has fluctuated today, reaching a high of $16.82 and a low of $16.06. Trading volume has reached 2.25 million shares, significantly higher than the average volume of 481,013.

The decision to halt the privatization process impacted the stock, despite which the stock remains within its 52-week range of $13.16 to $21.69.