Cantabio Pharmaceuticals Inc (OTCMKTS:CTBO) Gets Hit Once Again
tags: CTBO
After capturing investor attention back in the end of May, the stock of Cantabio Pharmaceuticals Inc (OTCMKTS:CTBO) got severely corrected. This came as no surprise, considering the fact that the upward run was supported by nothing more than paid promoters.
Furthermore, CTBO reached a massive market valuation that very few OTC entities can sustain. Although it suffered a terrible fall, the ticker managed to climb back up again, after further promotions. The constant pumping made the stock quite volatile, especially so after adding the factor of its financial performance.
- cash: $100 thousand
- total assets $100 thousand
- current liabilities: $188 thousand
- revenues: ZERO
- quarterly net loss: $65 thousand
Those numbers look pretty terrible for a company with such a high market valuation. Even after all the falling CTBO is still worth about $70 million, which is huge for an entity with such poor financials.
This is a classic pump campaign and the performance of CTBO is somewhat expected. Yesterday it suffered from its latest correction, dropping 11.12% down and closing the sessions with a price of $2.55, while a total of 198 thousand traded shares generated $539 thousand in daily dollar volume.
CTBO is more stable in today’s trading, despite the lack of news and its massive market cap. Still, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
