The high move immediately placed Generex among the top 10 market gainers and the stock got overbought. That’s a clear sign that the traders’ interest was provoked, though no one can predict the duration of the climb.
As there’s no recent news on GNBT, the high trade has probably resulted after the announcement that Dr. Craig Eagle became a part of the Generex’s scientific advisory board. Nothing further on the company was reported, except the news on the clinical trials of its insulin systems from mid-August.[BANNER]
Obviously, the positive news has reflected on GNBT stock and grabbed the investors, however, it lasted shortly and today the high trade seems to be broken.
Generex Biotechnology Corporation is a development-stage company engaged in the research, development and commercialization of drug delivery systems and technologies. Last year, the company used to trade approximately 50% higher, though since then the price has moved down.
The financial results of Generex don’t look much positive. According to its quarter report, revenue and gross profit of GNBT have decreased, as well as its net income. However, the company has suffered a higher net loss. GNBT has more assets than liabilities on its balance sheet, though it still has long-term debt to cover and its stockholders equity totals over $12 thousand.
Historical records show that the company has been promoted by ShamrockStocks.com and Breakthroughstocks.net, however, the price uptrend couldn’t survive for long.
Currently, GNBT is falling down again and the next move of the stock is unpredictable.
