Arch Therapeutics Inc (OTCMKTS:ARTH) Sliding Down
tags: ARTH
The stock of Arch Therapeutics Inc (OTCMKTS:ARTH) has really had a great run since it started climbing the charts back in the beginning of March. The ticker managed to gain quite a lot of value and keep it, before embarking on another upward climb in the middle of last month.
The company’s market cap has risen well above $85 million, which is right up there with some of the other more promising OTC marketplace entities. Still, ARTH’s balance sheet is decent, but not as good as some of the other medical device companies out there. Here is a quick example of some of the contents of its latest financial filing.
- cash: $1.67 million
- current assets: $1.76 million
- current liabilities: $399 thousand
- revenues: ZERO
- net loss: $1.22 million
Those numbers are certainly not bad, but it’s kind of surprising that they are capable of providing so much uplift for ARTH, while the company itself hasn’t issued a press release for a little over a month now.
The latest upward run was pretty impressive, but it finally came to an end before the weekend and ARTH began to slip down the charts. The latest session cost the ticker 8.33% of its value and we saw it close at $0.76125, while a total of 1.44 million traded shares generated $1.1 million in daily dollar volume, making it one of the most heavily traded stocks in yesterday’s session.
After a bit of hesitation in early trading today ARTH is, once again, strongly headed in a downward direction, so it would be best if you do your due diligence and weigh out all the risks before making any trading or investment decisions.
