Pharmacyte Biotech Inc. (OTCMKTS:PMCB)’s Slide Continues
Pharmacyte Biotech Inc. (OTCMKTS:PMCB) lost another 5.26% of its market cap last Thursday, dropping below the starting point of its latest ascent.
The announcement that PMCB was to be featured in a news magazine on the Discovery Channel’s “NewsWatch” certainly attracted the investor’s attention and aroused some enthusiasm. The hype created this way broke the ticker’s descent for a session, but it was clear that such a state of developments could not last. Why?
Because PMCB may talk big and take compliments well, but its achievements up to this point are not impressive at all – and its latest filing can certainly attest to that:
- $958 thousand in cash
- $378 thousand in total liabilities
- ZERO in revenues
- $1.45 million in quarterly net loss
While this is certainly not the worst 10-Q on the OTC Markets QB section, it does not make PMCB look like it is worth the hype, or the praise. However, that’s practically a given, seeing as how much of said praise has come from paid promotions by notorious pumper outfits such as OTCJournal and JetLife.
In conclusion – PMCB managed to spike on hype in spite of its largely unimpressive achievements to date – which is why its share price is currently going downhill. This turn of events has demonstrated that the ticker hasn’t completely lost its volatility, in spite of being exposed to a protracted pump campaign – which proves that there are still some money to be made out of it.
However, investors should be extra careful when dealing with this company’s stock, as PMCB is nothing like consistent or predictable.
