GNBT will always be subject to the penny stock OTC
Post# of 36568
(Total Views: 411)
Posted On: 07/27/2020 4:58:38 PM
GNBT will always be subject to the penny stock OTC speculators until it is up-listed to NASDAQ. From April 3rd thru May 14th, GNBT traded 8,277,100 shares for under .50, closing average around .46. With the stock around .60 for the last week or so, this amounts to about .14 per share or about a 30% profit in 2-3 months. Does anyone not want returns like that. These people care less about any company PR or long term growth, only what happens very short term. The latest PR is probably just attracting the next bunch of speculators who are buying at .60ish and then will unload in the .80-.90 range. Hopefully there are some long investors now buying that will help stabilize the share price in order get up-listed. I think/hope that when NGIO goes public, the intrinsic value of GNBT will get to above $2.00 and then get up-listed to NASDAQ, stabilizing the share price.
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