stock jumped up again, trading 22 million shares on the market.This time the gain has the same explanation as many times before – promotions. According to stockpromoters.com, ACT was promoted four times yesterday and the high trade was immediately on. And once again it’s the same question – how long will it continue?
The last news by the company was released last week in a serial effort to pump up the stock price. Despite a cell research pointed ACT as the ideal candidate for clinical trials involving iPS cells, its stock price continued to move down on a heavy volume. These days, Advanced Cell Technology has not published any updates on its activities, while investors are waiting for the news by the recent Stem Cell Conference. Meanwhile, the sharp price changes for ACT continue.
At the beginning of this month, the stock had another huge gain due to positive news and optimistic announcements, however, the price was down again shortly. Meanwhile, the company’s financials remain discouraging. According to its latest quarterly report, by end-September 2010 the company’s liabilities were more than six times higher than its total assets and the operating loss was not covered.[BANNER]
The management team of ACT stated that as a result of the limited operating history, if the losses continue investors may not receive any return on their investment. Not long ago, Gary Rabin, ACT’s Interim Chairman and CEO, said that his company was entering the new year in its strongest financial position. However, it’s still not clear what this statement refers to.
