TapImmune Inc. (OTCMKTS:TPIV) Corrects After Winning Streak
After a wild run that took the company’s share price to some amazing highs, yesterday TapImmune Inc. (OTCMKTS:TPIV) corrected in double digits. The price slipped nearly 13% and TPIV stopped at $1.28 per share by the closing bell.
Given how heavily overbought TPIV was for days about three full weeks, this correction was more or less inevitable. It’s even surprising that the stock managed to maintain a green streak with only very minor setbacks for so long and climb so high. Back in early May TPIV was traded at a humble $0.20 per share.
A combination of positive press releases, news of newly secured $2.5 million in financing and very promising results from a Phase I clinical trial sent TPIV to highs of $1.51 just two days ago. Most importantly, the company got there with no discernible stock pumps.
The latest announcement was related to the successful immune response displayed by the vast majority of a test group of women that had previously undergone standard operative and chemotherapy treatment for breast cancer. According to the press release, after a number of vaccinations, 19 out of 20 women showed a “positive immune response”.
The dip that TPIV charted yesterday was inevitable, possibly even healthy, if it does not turn into a series of double-digit blunders down the chart that pull the ticker back down dramatically. Appreciation of 650% within the span of two months is a little too fast for the company’s own good and is practically impossible to sustain.
In our previous articles we have also looked at some of the other, less enthusing things to keep in mind with TPIV such as the company’s steadily growing outstanding share count and the number of outstanding warrants that may be transformed into even more shares.
