BioMatrix Scientific Group (OTCMKTS:BMSN) May Be Waking Up
After a long and boring drift, BioMatrix Scientific Group (OTCMKTS:BMSN) piked a bit more, adding 36$ to $0.0034. This is not too hard for such an underpriced ticker, and in weeks past BMSN has had a few days of upward momentum and growing volumes, ending in sales soon. With the weekend looming, BMSN is certainly still on shaky ground. 
A double-zero stock is usually supported by some form of promotional activity. BMSN has not been mentioned for a month, since its last email on May 6th, where the graph shows a clear spike in buying volumes. But BMSN boosted its publicity record with the recent acquisition of a patent, through its subsidiary Regen BioPharma Inc. 
Also, BMSN has been busy with the FDA, recently sending a response on the agency’s comments regarding drug HemaXellerate. Thus, BMSN is going under a double dynamic, that of a pharma company attracting investors with a promise of future drug releases, as well as that of an underpriced stock, almost always attractive for a speculative bet.
But the financial data show not a successful drug industry newcomer- rather, an unsuccessful company trying to boost its ticker price with promotions:
- $815 in cash
- $1.8 million in current liabilities
- zero revenues since inception
- $596 thousand in quarterly net loss
Bird Gang Stocks, the last mailer for BMSN, seems to like sub-penny selections. Another biotech, Sinobiomed, Inc. (OTCMKTS:STOA) has been making the rounds, but as with other double and triple-zero stocks, it is much like nailing jelly to the wall. Such inderpriced selections rarely make a big trend, instead relying on dramatic short-term jumps.
BMSN may continue for a few days on general inertia and interest, but so far there is little to support the ticker. Unless another mailer decides to take up BMSN, the sideways drift may continue for a while. So it is best to do your own research about the newest activity of this small biotech business, and stay away unless you can afford the sharp corrections.
