SurfsUpStocks and Orbit Stocks Fail to Ramp Up Immunotech Laboratories, Inc. (PINK:IMMB)
Immunotech Laboratories, Inc. f/k/a International Technology Systems Inc. (PINK:IMMB) is the latest drug developer to get promotional coverage on the pink sheets. The company pretends to be very close to finding solutions to a handful of life-threatening diseases, yet this did not prove enough to give the stock the boost it supposedly deserves.
Yesterday, IMMB shares opened trade at $0.32, gapping up 39% as compared to their previous close. In spite of this strong beginning, however, IMMB never got higher than that. Instead, the stock quickly lost momentum, eventually closing the session at $0.25, which is 8.7% higher than the Feb. 12 close. So, if you bought a stake in IMMB prior to yesterday’s session, you might have secured a modest profit. By contrast, if you bought at the open on Feb. 13, you are most likely to be at a loss now.
Either way, this is hardly a big deal as 98% of the company’s outstanding stock is owned by insiders. They are the ones who would reap the biggest benefits if the promotion were to succeed. Unfortunately for them, the advertising effort did not bear any fruit.
As its name suggests, Immunotech Laboratories is solely docused on developing protein-based immunotherapies to be used in the treatment of such life-threatening diseases as HIV/AIDS, cancer, and hepatitis to name but a few. The company has just announced to have secured substantial funding to execute advanced-stage clinical trials of its patented IPF-ITV technology in Bulgaria within the next few months starting March. According to one of IMMB‘s directors, the expected successful completion of these trials could potentially pave the way for an FDA approval.
Even if IMMB‘s managers are really on the verge of striking it big, we cannot help but remain reserved, especially considering that IMMB is a classical pump job right now, and we all know what happens with promoted stocks once the hype is over. In case you need further proof, check out the historical records of Orbit Stocks and SurfsUpStocks, the main promoters in charge of the current campaign on IMMB. The vast majority of their past promo picks turned sour quickly after the emails touting them stopped coming in.
