Cellceutix Corp (OTCMKTS:CTIX) Crashing Further Down The Charts

[[tagnumber 0]][[tagnumber 1]]A report posted on a popular investor forum proved fatal for the stock of Cellceutix Corp (OTCMKTS:CTIX) which suffered quite the losses in the past few months. The ticker has lost more than 60% of its value compared to its positions in the middle of July and things look like they are getting worse recently.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It is rather strange that [[tagnumber 6]]CTIX[[tagnumber 7]] has suffered such losses at the hand of a report whose authors disclosed that he holds a short position. Still, the market cap of [[tagnumber 6]]CTIX[[tagnumber 7]] was pretty big, but that doesn’t mean that the company is in a weak financial state. Here is just an example of some of the numbers contained in the latest report.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $8.41 million[[tagnumber 15]] [[tagnumber 14]]current assets: $8.76 million[[tagnumber 15]] [[tagnumber 14]]current liabilities: $7.29 million[[tagnumber 15]] [[tagnumber 14]]revenues: $0[[tagnumber 15]] [[tagnumber 14]]annual net loss: $13.14 million[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The lawsuits that followed the report, however, were another thing that kept pushing [[tagnumber 6]]CTIX’s[[tagnumber 7]] value down the charts. Recently, the company sought out the help of the Ashcroft Law Firm on the matter and the latest press release made by [[tagnumber 6]]CTIX[[tagnumber 7]] contained an excerpt from the letter sent to The Rosen Law Firm, seeking a withdrawal of the complaint and a dismissal of the class action.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The news, however, failed to stop the ticker from sliding further down the charts. We saw [[tagnumber 6]]CTIX[[tagnumber 7]] lose another 9.84% in yesterday’s session and land at $1.10 at the final bell. A total of 991 thousand traded shares generated $1.11 million in daily dollar volume, the biggest in quite some time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session isn’t going very good as well, but the losses are kept to a minimum as of the writing of this article. You should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]