Nuvilex, Inc. (OTCMKTS:NVLX) Falls Despite the Optimistic PR
After the annual report that Nuvilex, Inc. (OTCMKTS:NVLX) filed with the SEC in the end of July things haven’t been going well for their stock. The few sessions in which they gathered some value didn’t manage to do much and the stock has been sinking in the last 3 sessions.
NVLX have been looking into ways of aiding the medical marijuana business with their research and development, which led to a few successful sessions in the end of last week after CNN’s documantary in which Dr. Sanjay Gupta expressed his change of mind about the benefits from medical marijuana.
However, after the medical marijuana stocks started deflating on Tuesday NVLX followed. Over the course of the last 3 sessions they lost 21% of their value. The biggest drop in price was yesterday when they went 14.65% down, going from $0.157 to $0.134.
The volume of traded stock was quite big and most of the trading took place in the first minutes, after which the price plummeted and went as low as $0.128. This in term added to the volume for the day and the total amount of shares that switched hands came to 7.6 million. At the end, the generated a trade value of $1 million.
The promotional campaign and the press releases couldn’t beat the review from Seeking Alpha and the figures from the annual report that was filed in the end of the past month, the figures of prime interest from which you can find listed below.
- cash: $199 thousand
- current assets: $1.8 million
- total liabilities: $3.7 million
- revenues: $12 thousand
- net loss: $1.5 million
These numbers don’t look very promising and we think that the ticker’s future is very uncertain. Also, the blaming of Seeking Alpha for their own opinion doesn’t look like a good tactic. For now the stock of NVLX remains risky so be sure to do a lot of due diligence if you are thinking of jumping on their train, which for now is headed nowhere.
Medical Marijuana Inc. (OTCMKTS:MJNA) and Growlife Inc. (OTCBB:PHOT) aren’t doing that well either. After the hype generated by the CNN documentary they gained some value, but their price has also been sliding down since Tuesday. They closed yesterday’s session with $0.1575 and $0.036 respectively.
