It looks like all desperate attempts of the company’s management to save Generex Biotechnology Corporation (NASDAQ:GNBT) stock from delisting from the Nasdaq Stock Market are helpless.
One of them was the paid GNBT stock promotion, which at present does not give positive results.
There are no disclosures for officially provided for GNBT stock promotional campaigns over the past month. Though, according to the information available for such campaigns, the stock was promoted during the past year.
In those days, GNBT stock was promoted for free with no compensation for promoters.
While the company’s stock was alerted in the middle of July, GNBT announced the received from The Nasdaq Stock Market written notice with the conditions to keep the company listed. The adequate investors’ response was almost 6% pull back of GNBT shares on the next day.
On Friday, the optimistic press release about the progress of the company’s drug development programs and the stock alerts being sent at the same time, presenting the “very volatile stock at a low point”, succeeded to bring investors the joy to count some gains.[BANNER]
GNBT shares added 11.11% to their value. The price jump was confirmed by investor decisiveness to trade almost 2M shares within a day.
The happy end of the week for investors looked like the natural continuation of the stock alerts impact. Almost all July, GNBT shares were included on the lists of good investment opportunities of different stock marketing letters.
Yesterday, the released failure of the company to meet the Reverse Stock Split Condition, one of conditions of Nasdaq Hearings Panel, cooled immediately investor optimism. GNBT stock closed 5.25% lower than on Friday, leaving investors the feeling of uncertainty, despite the officially disclosed information about an already paid and ongoing stock promotional campaign.
