Why Is Nexalin Technology (NXL) Stock Down 29% Today?

Core Insights - Brazil is the 9th largest economy globally with a population exceeding 215 million, where over 35 million individuals suffer from mental health disorders, highlighting a significant market opportunity for Nexalin Technology [1] - The recent regulatory approval from the Brazilian Health Regulatory Agency for Nexalin's neurostimulation device is a pivotal step for the company, potentially facilitating entry into other South American markets [1][5] - Following the approval, NXL stock experienced a substantial increase of 121% with approximately 8 million shares traded, significantly higher than its average daily trading volume of about 684,000 shares [1] Stock Performance - As of Friday morning, NXL stock saw a decline of 29%, with over 542,000 shares traded [2] - The stock's volatility is notable, with a massive rally occurring after the regulatory approval, indicating investor interest and market reaction to news [5] Product Details - The approval pertains to Nexalin Technology's second-generation, 15 milliamp neurostimulation device, aimed at addressing the mental health epidemic [6]