The suddenly started trading activity for RegenoCell Therapeutics, Inc. (OTC:RCLL) stock led to a sharp drop in the value of the stock. After market close the company issued its latest press release, which did not help its stock much, however.
RCLL closed the last trading session at $0.285, losing 41.84% of its value from the previous close. A total of 935,900 shares were traded, a huge number for the stock that barely got any activity before. RSI indicator shows weakness and the stock has now even entered the oversold area. Yesterday’s close puts a market value of over $23 million to the company, though that value still looks somewhat too high given RCLL lastly reported weak cash and assets position.
Maybe it is potential what traders believe would bring RegenoCell Therapeutics forward in its industry. On Friday, the company announced in a press release that it is opening another “state of the art” facility in Greece, where it would treat patients with congestive heart failure and peripheral artery disease using its autologous stem cell therapy.
Unfortunately, the company’s latest operational results did not look very optimistic. Revenues for this year’s first quarter were $262,225, which is a decline on an yearly basis, yet the company managed to cut down its operating expenses by nearly one half. On the other hand, the stock trades currently at a market premium of over 26 to the sales of the company, whereby the industry average is only about 13.
RCLL primary business is conducted currently through its wholly-owned subsidiary Regenocell Laboratories Ltd., which manufactures and sells stem cell therapy products used to treat congestive heart failure and peripheral artery disease. RCLL products are sold mainly in Bangkok, Thailand and the Dominican Republic.
