InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) Finishes the Week With a Big Loss
InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) were doing pretty well even though they had the occasional days in the red. After an unoptimistic review from Friday, however, their stock price plummeted on a huge volume that was generated by people trying to get out before the losses become even higher.
The trade session was going pretty well and the stock of NVIV was moving in a seemingly straight line through the day. That, however, was until a review from Seeking Alpha came out at 13:30, which was followed by a crash in their price and a huge dumping fiasco.
In the end of the day the price had fallen 27.91% on a very high volume. The total amount of shares that had switched hands while the stock was moving from $4.134 to $2.98 per share came at 3 million and helped generate a trade value of $10.18 million dollars, which put NVIV high in the top of our list with hottest OTC stocks.
The recent report for the second quarterly period of this year didn’t do anything to make the situation better. The numbers of prime interest contained in it are as goes.
- cash: $22 million
- total assets: $25 million
- total current liabilities: $1.5 million
- total liabilities: $3.4 million
- reveues: $0 since inception
- net loss: $14 million
The numbers aren’t pretty and the fact that they are still in development stage when their oldest report filed with the SEC dates back to 2004 isn’t speaking well for the company. Today’s session, however, has a bit more optimistic start. It seems that people who managed to shed their holdings when the price was still around the $4 mark are going back in with the money they won and are buying in the low.
So far the stock has gained 8.3% in value and is currently priced at $3.23 per share. It seems that today’s session will be action packed, as the amount of traded shares to this moment comes at 813 thousand. The trade value that these trades generated is estimated at $2.5 million, and we reckon that they are going to finish today’s session high in our list of hot stocks.
Another is the case with Affymax, Inc. (OTCMKTS:AFFY), who seem to be heading up after a long period of staying idle. They closed Friday’s session with a 7.50% gain in price and are continuing to climb the charts today, with a current price of $1.86 per share.
