Re CYTLD reverse split. Okay, it's happened and the price today is $3 on 11,000 shares = talk about lack of liquidity. 52 week low was $2.60, split adjusted, so according to the theory of reverse split disaster, the price should have been there by now. The shareholders would not be holding the stock if they KNOW it is going back to the 50 cents before the reverse split.
So far, the evidence is that people have not bailed out and lowered the price to the pre-split level of 50 cents. Now we have to wait and see what the fundamentals do. If they don't develop something to generate sales and shareholder excitement, the share price will continue to slide as cash is eroded and the company's prospects dim. But that wasn't the idea of reverse split disaster, it was simply a technical analysis idea that people would bail out because people would bail out = a self-fulfilling prophecy like so many lemmings stampeding.
This anecdote will be interesting, but cancer researchers know that a single individual case does not prove a general prognosis can be predicted for everyone. Even if CYTLD stays up, it would not prove that TCLN would stay up if it reverse split - so many here seem to be opponents of reverse splits that it might well be that they would lemmingize at the first hint of a reverse split. Similarly, if it goes down, it does not show that TCLN would do the same.
CYTEL CORP (Nasdaq:CYTLD) - More Info: News , Msgs , Profile
Last Trade
3:42PM · 2 15/16 Change
-5/16 (-9.62%) Prev Cls
3 1/4 Volume
11,700 Div Date
Nov 16 No 1 year chart available for CYTLD.
small: [ 1d | 5d | none ]
big: [ 1d | 5d ]
Day's Range
2 15/16 - 3 1/4 Bid
2 15/16 Ask
3 1/32 Open
3 1/4 Avg Vol
N/A Ex-Div
Nov 16
52-week Range
2 5/8 - 17 1/2 Earn
PS: Jack, I'd forgotten there some bids lower than mine [apart from the notorious Endotarget], so I guess I'm not going to be in the running after all. It would be nice to see $4 as that would mean progress on Oncolym or other technology [or some sudden publicity like Entremed]. |
