Already in April this year, when NNLX share price has been pushed up by some paid promoters, it seemed clear that the rise of the stock is kind of speculative and did not have the power to last. Since then, NNLX made several attempts to break the April highs, but could not even approach them.
Without the vital promoting, NNLX share price is rolling slowly down as the company has still not made any official or unofficial disclosures about its financial condition or the state of its operations. The only two press releases have also not been really informative. The last one was made at the end of August and it announced that the US Environmental Protection Agency will cooperate with NNLX to design a rapid diagnostic method to detect bacterial threats in drinking and source water.
The published on the company’s website link to a granted patent for “a method and device for the rapid detection, enumeration and identification of microorganisms” might have added some credibility, as NNLX share price reacted positively, before heading downwards again.
On Friday, the stock lost most of the value already before the market had opened and added “only” 4.41% to the losses within the session. The close at $0.65 and the over $61.7 million market cap seem still too high for a company without any proven business. Moreover, it is a pity that a company which operates, or plans to operate, on such a big scale will not make the effort to file with the SEC.
In the meantime, there were some covered attempts on the investor message boards to create an intrigue around NNLX and its aimed business related to the detection of bacteria, maybe preparing the next rising attempt. The coming sessions, or possibly some new paid investor alerts, will show if and what consequences the discussions will bring.
