Guided Therapeutics Inc (OTCBB:GTHP) Hits New Low
This year has been terrible from the stock of Guided Therapeutics Inc (OTCBB:GTHP) so far. The ticker has lost a massive amount of value and has been driven to the bottom of the charts, while the volumes have increased significantly since the end of last month.
The downfall of GTHP happened after the company exercised a 1-for-100 reverse split in the second half of February. Instead of strengthening the company stock, the split did just the opposite. Meanwhile, the company has managed to dilute its shareholders significantly in the period after the split.
The numbers in GTHP’s financial statement don’t look great either. Here is just an example of some of the contents of its report for the first quarter of the year.
- cash: $56 thousand
- current assets: $2.05 million
- total liabilities: $6 million
- quarterly revenues: $262 thousand
- operating loss: $1.13 million
Those numbers aren’t looking very good, but GTHP has already lost quite a lot of its value. Still, the company stock doesn’t seem too keen to regain some ground. In fact, GTHP is doing quite the opposite. The ticker lost 20.35% in Thursday’s session and dropped another hefty 25.56% down the charts in Friday, closing the week with a price of $0.0067 per share.
Considering the performance of the company stock we may see it fall even further down the charts, providing opportunities for shorting. Still, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.