Tauriga Sciences, Inc. (OTCMKTS:TAUG) Turns Bright Red
Tauriga Sciences, Inc. (OTCMKTS:TAUG) had a good run in the last couple of sessions on the hype a CNBC coverage threw its way, but now it seems that the company is headed back down again. Yesterday, it lost 21.27% of its market value, despite being off to a good start at the beginning of the session.The coverage CNBC provided, combined with the company’s own good news, were responsible for TAUG‘s latest climb. No surprise there – good news have a tendency to excite traders, which can lead to price spikes. Sadly, stock prices that have grown explosively on hype have the tendency to shrivel dramatically once the hype that sustained them is no more.
This is exactly what happened with TAUG. The growth its last jump achieved just couldn’t be sustained, and as a result the ticker plummeted soon after the spike.
Interestingly enough, investors don’t seem to be bothered by the fall – apparently, many of them are convinced that further news on the company’s latest developments will hit the web some time this week. It is expected that once this happens, TAUG will explode again, like it did mid February and mid March.
Indeed, looking at the charts, one could find similarities between the current movement of TAUG and some of the company’s February and March runs. However, investors would do well to remember the fact that although TAUG stock prices rose aggressively in the first quarter of 2014, the decline that followed almost wiped out the company’s growth.So if the pattern is really repeating, TAUG may be looking forward to another prolonged ride in the red in the near future.
