volume of the stock has been rising up at full speed. Yesterday, GNTA lost 14.49% of its price, and its volume exceeded 11 million shares traded, which is a huge loss for one day. Obviously, investors are getting more and more disappointed and sell their shares intensively.Genta has released no news since end-September, except the announcement saying that the company’s stock symbol has reverted to GNTA.OB, replacing its previous one GETA.OB. The new symbol is effective since yesterday, however, no other news on Genta was published.
Meanwhile, trading alerts and stock promotions couldn’t prevent GNTA from falling down, which already hit a new 52-week low and the downtrend continues.[BANNER]
According to the company’s quarterly report, GNTA’s financial condition is disastrous. The company has long-term debts of $145 million and almost all of them are in convertible notes. While, at the same time, total assets of Genta are only $24 million. Another negative fact is that the company’s sales can hardly be compared to its huge expenses and it’s only the additional financing that can save Genta from crashing down.
However, the company announced that profitability during the last quarter was due to its accurate methods of accounting and a result from the reevaluations of some owed amounts.
Looks like Genta keeps making desperate efforts to push up its stock price by manipulative PR strategies and provocative trading alerts, which should be a red signal for the investors.
