ScripsAmerica Inc. (OTCBB:SCRC) Cut In Half After Dumping Fiasco

During Friday the prolonged climb ScripsAmerica Inc. (OTCBB:SCRC) was making up the chart came to an abrupt end. For most of the day the price of the stock was relatively stable deviating slightly from the opening price of $0.979 and it looked to stay that way. But in a surprise turn of events, just half an hour before ending time, nearly a million shares were dumped on the market.

As a result the stock took a plunge for the bottom and lost 57% of its value dropping down to $0.41, for just 30 minutes half a dollar was wiped. This unprecedented slide comes right after a whole month of positive sessions. In mid-June SCRC were hovering just below 20 cents while last week they were going to challenge the $1 mark. Now the stock must test its mettle in order to retake the position it lost.

Despite enjoying such an incredible upwards trend SCRC weren’t targeted by pumpers for most of the run. This also changed last week when we received a couple of alert emails from Money Runners. The newsletter has a limited history having begun operations at the start of the year. As a distinct feature it disclosed receiving no compensation for its services instead opting to buy and sell shares of the promoted stock as they see fit. With such a business plan many investors are suspecting them to be the ones standing behind the massive selling.

As we informed you in our previous articles SCRC may be a bit ahead compared to other medical pennystock companies. They have a ready product – RapiMed(R), an agreement with a distributor for North America and are looking to expand into the Asian market. Investors’ confidence was further boosted by the prepayment of certain convertible notes with cash in order to prevent further issuance of common stock.

Intellicell Biosciences, Inc. (OTCMKTS:SVFC), also a medical company but focusing mainly on stem cell research, had a red close on Friday too. The numerous concerns about them might have accounted for the tumble of 12%. Ampliphi Biosciences Corp. (OTCMKTS:APHB) on the other hand had an amazing time at the end of the week and surged by 47% to close at 0.34 despite bearing the OTC Pink no information symbol on their OTCmarkets profile.