PharmaCyte Biotech, Inc. (OTCMKTS:PMCB) Crashes Horribly
PharmaCyte Biotech, Inc. (OTCMKTS:PMCB) crashed 9.26% on Friday, in spite of having a newly-issued and positive piece of PR.
Diligent investors know full well to be wary of PMCB, as there are a bunch of red flags surrounding the company. For one, it is a development stage biotech company with unimpressive financials:
- Cash – 958 thousand
- Total liabilities – $378 thousand
- NO REVENUES
- Quarterly net loss – $1.45 million
It has also been on the receiving end of more than 120 paid pumps since the beginning of 2015. These facts alone should be indicative enough of the risks associated with investing in PMCB.
The odd thing in this case is the fact that, on Friday, PMCB crashed in spite of having no apparent cause to do so.
PMCB had just issued a new and reassuring piece of PR. There were recent and optimistic reports on the company by the SmallCapNetwork.com, and 247wallst.com listed PMCB among the top “10 Largest Marijuana Companies”. The latest round of PMCB touts hit the web about two weeks ago, and there aren’t any new relevant filings concerning the company since then
Long story short – due diligence on PMCB seems to turn up nothing on why the ticker turned red in last week’s final trading session. The ticker’s movements have always been erratic, and now more than ever they seem completely random.
This is precisely why long term investors and opportunistic traders should be doubly careful when dealing in PMCB stock.
