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Biotech / Medical : 2000-Year of the Biotechs!
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To: Return to Sender who wrote (1135)12/12/2000 11:50:25 AM
From: opalapril  Read Replies (1) of 1142
 
Very low floats.

I don't recommend it (or any other super-low float stock) other than as a pure penny stock gamble, but I've been known to hold SMDX in the past and might hold it again in the future. It has just about as low a float as you can get -- which is to say, sometimes zero.

The story is that some time ago they licensed DNA array technology from an individual Iowa State University scientist. I have seen some reports that he was p.o.'d at the lack of progress in marketing the machine. Last summer the company looked like it might be at death's door. The sales force melted away (or was fired), income dried up, the CPA resigned, and the books had a certain odor to them. Then the company claimed it had hired a new CFO, outsourced the sales, and more recently managed to make (or at least announce) a couple of single machine sales and grab a government contract or two. In the time I've watched it it has traded as high as ~ $5 and as low as ~50 cents. Is the technology solid? I have no idea.

Also, a very persistent and seemingly quite nice SI member by the name of 'beach' has been busy touting a Canadian biotech which has a very low float: V.PBP The company's web site recently was updated with bios of the scientists. I know no more than you can read about it. The float is tiny and stock price seems to be in love with the number 2.

Want some unsolicited advice on investing in low float stocks during turbulent market times with bearish clouds overhead? Don't. Not unless you have a lot solid information about a specific company and more cash than you can count, and you don't care if the bottom falls out inside of 5 minutes.
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