BioMatrix Scientific Group (OTC:BMSN) Holds Fast, Adds New Gains
BioMatrix Scientific Group (OTC:BMSN) is one of the penny stocks that held up well since the beginning of the year, with every bad day threatening a deeper slump quickly turning into a new climb. On Tuesday, the ticker added more than 42% to $0.013, clearly showing signs of becoming a favorite accessible bid. Near one cent, BMSN promises significant climbs within a trading day for investors that move fast enough.
The fundamental data of the company have little bearing on the stock movements, but still, here is a snapshot of BMSN‘s situation:
- $29 thousand cash
- $1.6 million current liabilities
- ZERO revenues generated since inception
- $522 thousand net loss for the quarter ended June 2012
The newest press release on BMSN from the end of February touts the company as a way to ride the trend for biotechnologies and nanotechnologies, the new booming sector in penny stock circles. Usually small cap companies come out with loud proclamations of new year plans, and this attracts healthy trading volumes, supporting a longer climbing trend. The volumes for BMSN are significantly higher than in the past three years.
The last promotional email from Investor Ideas came on February 15th, and the graph clearly shows a break in the upward trend, with a large loss on February 19th. But the general idea of a rising trend seems to be preserved, and we are yet to see if BMSN will wipe out the pump’s gain entirely.
Investor Ideas has already abandoned BMSN, instead pumping Medical Alarm Concepts Holding, Inc. (OTC:MDHI), a double-zero ticker that offers a shocking and choppy ride of risky day bids. Before taking up a stock with a trend or a riskier one like MDHI, it is best to do your own estimation of acceptable risk and losses.