Brainstorm Cell Therapeutics Inc (OTCBB:BCLI) Drops on Massive Volume
BrainStorm Cell Therapeutics, Inc. (OTCBB:BCLI)’s stock doesn’t usually attract much interest and is slowly going down the charts in price, with small percentile movements that are rarely greater than 5%.
Despite the optimistic press relase a day before the weekend, BCLI started this week on a bad foot with a drop that stood out in their chart. The volume was also quite high, more than 10 times the ticker’s average, and might be the actual reason for the descent.
The intraday chart suggests so, because it can be seen that BCLI gapped up and opened at $0.18 per share, but crashed as low as $0.1026 in a matter of moments after the massive dumping fiasco began.
Nonetheless, BCLI regained some of its value as trading quieted down and managed to close the day with a 14.83% loss, at $0.1499 per share with a whopping 3.29 million shares that switched hands, in term generating a total of $475 thousand in dollar volume.
As promised before the weekend, Prof. Dimitrios Karussis, the principal investigator of the company’s clinical trials that are being carried out at the Hadassah Medical Center in Jerusalem presented the peliminary findings of his research at the 24th International Symposium on ALS/MND (amyotrophic lateral sclerosis, also referred to as motor neurone diseas).
The company, of course, informed us that the Phase IIa study results were reported as “extremely optimistic” so we might see BCLI going up, regaining some of the losses. In fact the ticker gapped up and opened today’s session at $0.1695, but slid a bit lower and is currently 10.07% above yesterday’s close at $0.165.
In any case, the $51 million comulative loss the company has registered since its inception in the year 2000 isn’t small and it still seems that BCLI is a long way from actually operating at a profit. Their cash reservesh have also shrinked and were listed as $329 thousand for the period ended September 30,2013, which leads us to question if the company will manage to sustain its research until being even capable of generating revnues.
This is the exact reason for which we would advise you to do your due diligence and weigh out the risks, before deciding to bet of BCLI.
Nutranomics, Inc. (OTCBB:NNRX) also had a bad session, as the ticker ended its long upward run with a tremendous crash in which it lost 54% of its value on a high volume of traded stock. On the other hand, Revolutionary Concepts, Inc. (OTCMKTS:REVO) gained a whopping 52.94% in price.
