Unless your intention was to buy shares. No stock
Post# of 36566
(Total Views: 270)
Posted On: 07/09/2019 4:56:07 PM
Re: OrlandoJohn #4586
Unless your intention was to buy shares. No stock can go up in a straight line. The momentum has now turned the other way-Why? There is no negative news. Nothing MMPJoe said during the CC has changed. I said the same thing yesterday, but GNBT is still a small biotech stock on the OTC board. The float is low and there will be volatility in both directions.
There has been no new fuel to keep the fire burning. These are not institutional holders of the stock who are selling (there are none), but individual sellers who got caught up in the quick run from .90 to 3.28 and then got scared. Most likely their buy price was too high. As the price began to drop, they sold out. It wouldn't surprise me if some people bought today at 2.80, thinking they got a good price and sold at 2.50 as the share price continued to drop. Maybe others took some profit.
This kind of volatility is to be expected until and unless: 1) we get uplisted to NASDAQ; 2) institutional buyers come in and lend stability instead of volatility;
3) the plan begins to fall into place; and 4) the company begins to make money that shows up on the quarterly reports.
We have a long way to go before we reach some of these goals. On the other hand we may be pleasantly surprised, if the goals are met earlier instead of later. The key is uplisting. Once that occurs, I'll take my chances.
There has been no new fuel to keep the fire burning. These are not institutional holders of the stock who are selling (there are none), but individual sellers who got caught up in the quick run from .90 to 3.28 and then got scared. Most likely their buy price was too high. As the price began to drop, they sold out. It wouldn't surprise me if some people bought today at 2.80, thinking they got a good price and sold at 2.50 as the share price continued to drop. Maybe others took some profit.
This kind of volatility is to be expected until and unless: 1) we get uplisted to NASDAQ; 2) institutional buyers come in and lend stability instead of volatility;
3) the plan begins to fall into place; and 4) the company begins to make money that shows up on the quarterly reports.
We have a long way to go before we reach some of these goals. On the other hand we may be pleasantly surprised, if the goals are met earlier instead of later. The key is uplisting. Once that occurs, I'll take my chances.
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