GREY:IPHAF - Post by User
Comment by
WASKERWISKon May 20, 2010 11:23am
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Post# 17117979
RE: RE: Stop the Bleeding
RE: RE: Stop the BleedingWell I would suggest two reasons both related to the current bloodbath of a market we are in. And it is a real blood bath at the moment.
First this is a spec stock. Loads of people are going to cash so lots of people are selling everything they’ve got. The last place you want to place your money in this climate is in a spec stock so the buyers are drying up while the sellers are increasing. So this kind of stock will suffer more than most.
Second it is a penny stock. Just as percentage wise you can gain substantially on an absolute rise of only a few cents, likewise the opposite is true if the price drops. For example, Amorfix, another very good spec biotech, is down 8% today alone (4 cents). So the impact of every penny drop is much more profound. Bank of Montreal is down an entire dollar today alone as I type but although that is actually massive it is still only 1.6%. ISA drops 3 cents and its is 10%.
Just keep your fingers crossed that the market improves by the time of approval.