Innovus Pharmaceuticals Inc (OTCMKTS:INNV) Keeps Sliding
Innovus Pharmaceuticals Inc (OTCMKTS:INNV) had a pretty decent run up the charts last month and managed to gain significant value over a short period of time. Meanwhile, the daily volumes recorded by the company stock were massive compared to its previous performance, but things quickly quieted down in the past couple of weeks.
There are plenty of reasons for the loss of investor attention. One of them is relatively easy to find by taking a quick peak at the numbers of prime interest contained in INNV’s report for the first quarter of this year.
- cash: $32 thousand
- current assets: $378 thousand
- current liabilities: $3.56 million
- revenues: $224 thousand
- net loss: $1.55 million
Those numbers are far from pretty, but at least INNV is generating revenues, something that we rarely see from a company in its sector. Still, the market cap of INNV is far from being small, even after the latest slide down the charts.
Yesterday we saw INNV lose 9.09% of its value and close at 15 cents per share. The volume was similar to the one from the previous sessions and the 1.61 million shares that changed their owners generated $239 thousand in daily trade value.
It seems, however, that the slide is only getting steeper and INNV is already trading 12.67% in the red as of the writing of this article. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.