RegenoCell Therapeutics, Inc. (OTC:RCLL) opened the market again with with gap up after new promotional e-mails for the stock created some hype early in the morning. The trading volume was the highest ever for RCLL, but the price remained below the September resistance.
Yesterday, RCLL closed the market at $0.038, which is a 26.67% increase from the previous close. The new promotion also managed to create real demand for the shares as the over 7.9 million share volume in just one session is the highest in the short trading history of the stock.
Our newsletters database has registered 7 promotional e-mails, all of which sent within less than three hours starting early in the morning. It looks like there is only one promoting firm behind as all the newsletters disclosed the same compensation of $7,500.
Unlike the promotional hype from yesterday, the first gap up at market open of RCLL on Monday was probably caused by a press release which came out on Friday afternoon. It announced that the company’s subsidiary Regenocell, Ltd. could possibly have new distribution contracts by the end of the year, which would come to the benefit of RCLL revenue from its cell processing operations.
That announcement sounds too general to have some substantial impact on RCLL share price, but as seen on the chart it did have an effect since the company’s sales have been going down recently. The market value of RCLL is currently $3.1 million, which looks very low for a company engaged in the development of stem cell therapies. However, this is probably deserved at the moment, given RCLL weak cash and assets position and its much larger debts.