Rock Creek Pharmaceuticals Inc (OTCMKTS:RCPI) Can’t Find Its Direction
The first couple of months of this year weren’t all that bad for the stock of Rock Creek Pharmaceuticals Inc (OTCMKTS:RCPI), as the ticker was slowly sliding down the charts. Lately, however, things have changed and RCPI took a more steep downward direction, rapidly losing value.
The market cap of RCPI has already dropped significantly and we see an increase in daily volumes in the past couple of weeks. Meanwhile, the report for the first quarter of the year shows that the lack of investor confidence is nothing surprising.
- cash: $552 thousand
- current assets: $1.1 million
- current liabilities: $21.83 million
- revenues: ZERO
- net loss: $2.69 million
Those numbers are far from great, but the market cap of RCPI has dropped below a quarter of a million dollars by this point. Still, after a couple of weeks of heavy sliding we saw the company stock bounce and regain some lost value in Monday.
Unfortunately, RCPI has been very hesitant in the last couple of sessions and is moving in both ways. After the impressive 41.94% gain in Monday we saw it drop 31.36% in Tuesday and go up 17.22% during yesterday’s session, closing at $0.0177. A total of 13.09 million shares changed their owners, generating $200 thousand in daily dollar volume.
It appears that trading has quieted down, but RCPI is still unable to find its direction. The ticker is trading 3.95% in the red as of the writing of this article and you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
