Prima Biomed Ltd. (NASDAQ:PBMD) Corrects After Impressive Gains

[[tagnumber 0]][[tagnumber 1]]Prima Biomed Ltd. (NASDAQ:PBMD) is usually very thinly traded and we rarely see any big percentile movements or daily volumes from the company stock. The company is a biotech that specializes in the development of oncology therapies.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Most recent news caused the ticker to make some very impressive jumps in price, especially for a NASDAQ traded entity. On May 19 the company announced positive results from their CAN–003 Phase II ovarian cancer clinical trial and the stock immediately shot up, gaining 207.75% by the end of the session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The daily volume back then was kept to $3.6 million, but the frenzy was to come next. On Wednesday we saw PBMD climb an impressive 269.37% and close the day with a price of $5.91, while some 91.45 million shares changed their owners, generating a daily dollar volume of over $428 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems, however, that the hype generated by the news has dwindled away and the heavy trading Wednesday has made [[tagnumber 14]]PBMD [[tagnumber 15]]unstable. This is visible from the 48.39% loss that the company stock had to endure yesterday before closing at $3.05 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This can easily be explained by the volatility of the industry that [[tagnumber 14]]PBMD [[tagnumber 15]]is in. The process of developing and testing drugs before being able to commercialize it is long and there can be many bumps ahead.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems like investor confidence is stronger today and [[tagnumber 14]]PBMD [[tagnumber 15]]is trading in the green, despite a gap down at $2.89. Still, there are serious fluctuations, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line. The fact that pumper outfits have started paying attention to [[tagnumber 14]]PMBD [[tagnumber 15]]and touting the stock for no compensation, just adds to the volatility.[[tagnumber 2]]