Root9b Technologies Inc (OTCMKTS:RTNB) Gets A Correction

[[tagnumber 0]][[tagnumber 1]]After Root9b Technologies Inc (OTCMKTS:RTNB) hit a 52–week high in the middle of May we saw the ticker begin to slide down the charts. The reason was obvious. A person who goes by the nickname The Pump Stopper posted an article on a popular website in which he expressed quite a negative opinion about RTNB, as well as disclosing that he holds a short position.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, despite the obvious desire to push the ticker down in order to make a profit it all turned out as planned and we saw [[tagnumber 6]]RTNB[[tagnumber 7]] lose more than 60% in the following two months. Apart from that, we saw quite a lot of law firms that decided to prepare a class action lawsuit against the company alleging that [[tagnumber 6]]RTNB’s[[tagnumber 7]] management team has made, among other things, “materially false and misleading statements”.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In the same time we see that [[tagnumber 6]]RTNB[[tagnumber 7]] is doing rather well. Last month the company posted its results for the second quarter of the year and they were quite decent.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 19]] [[tagnumber 20]]cash: $1.97 million[[tagnumber 21]] [[tagnumber 20]]current assets: $13.95 million[[tagnumber 21]] [[tagnumber 20]]current liabilities: $11.21 million[[tagnumber 21]] [[tagnumber 20]]quarterly revenues: $7.94 million[[tagnumber 21]] [[tagnumber 20]]quarterly net loss: $1.14 million[[tagnumber 21]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On the bright side, we see that the cash reserves have grown and the revenues are increasing, while the net loss has gone down. On the other hand, we see a significant increase in current liabilities compared to the end of last year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]With the current market cap being around $100 million we are not that surprised that [[tagnumber 6]]RTNB[[tagnumber 7]] dropped 8.22% down the charts, despite the announcement of new experienced people joining the company’s Advisory Board. As the ticker was going to a close at $1.34 we saw a total of 91 thousand shares change their owners and generate $122 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 6]]RTNB[[tagnumber 7]] is a bit more stable in today’s trading, sitting 2.99% up from yesterday’s close. Considering all the controversy surrounding the company, however, it is very hard to predict where the stock might go. Be sure to do your due diligence and weigh out the risks before making any moves.[[tagnumber 2]]