CryoPort Inc (OTCBB:CYRX) Losing Altitude

[[tagnumber 0]][[tagnumber 1]]The situation around CryoPort Inc (OTCBB:CYRX) lately has become quite ugly. While the ticker was hovering well above the $6 per share level in the past couple of months we have seen a rapid decline over the course of the past two sessions.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker came flying down the charts for no apparent reason, clocking in a 22.50% loss in Wednesday and dropping another 13.98% in yesterday’s session. The daily dollar volumes for both days were relatively low and [[tagnumber 6]]CYRX[[tagnumber 7]] registered $122 thousand while it dropped to the $4 per share mark in yesterday’s session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yesterday the company announced a public offering which consisted of 2 million units at a price of $3.25 which included one share of common stock and a warrant to purchase another share of common stock at an exercise price of $3.57. The total proceeds are expected to be in the neighborhood of $6.5 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The news, however, had an incredibly negative impact on the company stock. Today it opened with a massive gap down at $2.45 and has since managed to climb to the $2.50 mark, which constitutes a 37.50% loss as of the writing of this article. The volume has gone up by more than 10 times in just an hour and a half of trading and the 371 traded share that have switched hands so far have generated $891 thousand in trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It seems like the week will end very badly for [[tagnumber 6]]CYRX,[[tagnumber 7]] but nimble traders might still make a buck out of the volatility. Just remember to always do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]