The SpongeTech stock is very risky and more speculative than ever before right now, but I felt that the potential for a reversal was good enough to average my position down to the five cent level - after some Monday buys.
Investors should keep an eye out for the re-stated financials and possible PR updates concerning ongoing sales and operations.
The lawsuits are a non-issue, in my opinion, because I don't think that the company was intentionally trying to mislead investors. To the contrary, it looks to me as if SpongeTech was attempting to become more legit by conducting a reverse split and looking to chase the day traders and speculators out of the stock.
Disclosure: VFC is long SPNGE.
PPHM: Shares of Peregrine traded with some strength on Monday after the company opened trading after having have conducted a 1:5 reverse split.
The company also took the opportunity on Monday morning to announce that former Genentech Senior Executive Dr. Robert Garnick has joined Peregrine as the Head of Regulatory Affairs.
I maintain that PPHM is full of future potential based on the bavituximab and Cotara pipeline, although those products have yet to hit Phase III.
I'll continue to accumulate on any dips.
Of note, the stock will continue trading as PPHMD until the end of the month.
Disclosure: VFC is long PPHM.
3 COMMENTS:
Time to cover CBAI - they are opening their new lab next month - largest in the US. They store stem cell (non controversial - adult/child stem cells.) Obama is behind them and you should be too. Would love to see an article on them. Check them out. It's CBAI - Cord Blood America.
Signed,
Loyal stockholder
The backlash has begun on SPNG. ESPN is printing negative (and flat out incorrect) stories on SPNG, and this is the kind of press that could hamper future advertising efforts in the sports arena space. See the bottom of the Debunking the Church Jeter article on page 2. This space does not allow me to post the link.
This reporting is irresponsible as well as incorrect. Yet, the public doesn't care, and is too lazy to look into anything. (See Fox News Channel for evidence)
A PR from the company would be nice, am I asking too much? They must have a vague idea when the financials are going to be finished, they have had ample time to get this done in my opinion.
Scott
Fellas, cbai is not going anywhere, there are billions of shares outstanding with no revenue. Its been junk for a long time and always will be. No insurance will pay for the service. Obama is not behind CBAI, lets talk logicly. Spng seems to be a scam that is starting to get notice. I saw a commercial, where they were advertising there stock, pump and dump scam, be honest with yourself. It is halted by SEC, man see what is happening. Some of my thoughts on reality. Good Luck
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