Quantrx Biomedical Corporation (OTC:QTXB) appears to be holding the gain after the stock skyrocketed on no news, but got recommended to the subscribers of Actual Gains stock newsletter. Strangely enough, the advertisement was not paid for, although it contained extensive due diligence.
The stock price added over 120% after the recommendation. Since the promotion was not paid for, stock dump from third party is less likely as well. The price is holding the gains for a third trading session in row, thus proving that the buyers that acquired shares during the big rush still do not liquidate their positions, maybe hoping for more gains. [BANNER]
The due diligence presented in the newsletter simply provided compressed information about the company and did not disclose any new developments. While investor awareness remains high, the stock price is likely to hold as well.
Quantrx is still waiting for the FDA approval on their Thyroid Point-of-Care Testing System. The process can take up to one year, despite the optimism that follows a 6-month benchmark usually assigned to 510(k) Application approvals/rejections.
December 9, 2010 will mark the half a year waiting for the FDA’s decision. Thus, the anticipation sustains the price high at the moment over the possibility of more extensive rallies as the date approaches.
