Amarantus Bioscience Holdings, Inc. (OTCMKTS:AMBS) Fails On Big Volume
The stock of Amarantus Bioscience Holdings, Inc. (OTCMKTS:AMBS) is trading like hot cakes recently. It also managed to climb in value in the end of last month, but yesterday’s session went very bad as the stock lost almost every cent that it had gained in a huge dumping fiasco.
It seems that the hype created by the optimistic news coming from the company has finally crushed the value of AMBS‘s stock with the investor interest that it created expressed by the massive volumes of traded stock recently.
Yesterday’s trade session started with a huge dumping of stock right after market open. This brought the price of AMBS‘s stock down just 20 minutes into the session and it didn’t manage to get back up. The low for the day of $0.0330 was reached right after 11:00 AM and was followed by a small increase.
After noon things quieted down and the stock continued to move in a seemingly straight line until the end of the day when it recorded a 28% loss for the day and closed at $0.0351. The volume was 5 times the ticker’s average with a total of 26 million shares that had switched hands in the end of the session, generating a trade value of $1.5 million.
The company has a market cap of $24 million, but what do you actually get for that amount of money. Check out the numbers of prime interest from their Q2 report.
- cash: $67 thousand
- total current assets: $481 thousand
- total current liabilities: $5.5 million
- revenues since inception: $0
- net loss: $900 thousand
The financial situation at the company isn’t rosy at all and it may take quite some time before they start making any revenues. The news about the upcoming commercialization of one of their drugs might have come too soon. After all LymPro has only completed Phase 1 of the clinical testing and is ready to move into Phase 2, so it is still early to make predictions about when it will be publicly available.
In any case, be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of investing in AMBS.
On the other had we see that the hype around the medical cannabis stocks of Medical Marijuana, Inc. (OTCMKTS:MJNA), Growlife, Inc. (OTCBB:PHOT), Cannabis Science, Inc. (OTCMKTS:CBIS) and Hemp, Inc. (OTCMKTS:HEMP) has come to and end and volumes have come back to their regular with some losses in price.
