Skyline Medical, Inc. (OTCMKTS:SKLN) Reverses the Promotional Gainss
Sadly, the promotional drive upward for Skyline Medical, Inc. (OTCMKTS:SKLN) seems to be ending mid-week, as markets opened downward. SKLN had its strongest volumes on Tuesday, as $1.2 million worth of shares were bought up, propping the price up more than 39% to $0.4199. Penny Pick Finders helped investors zone in on this selection.
The ticker had eight promotional emails as of Tuesday, with zero compensation, lifting it up to a highest price in more than a year. The pumpers took up the ticker for free and only amplified an already existing upward trend. Still, SKLN has a long way to go to the 2011 levels of up to 80 cents.
As with many other pharmaceutical stocks, such a run and higher buying interest is almost always related to a drug nearing or receiving FDA approval. And this is absolutely the case for SKLN, which has managed to involve its surgical technique products in mainstream procedures. For this, the company has to show:
- cash: $137 thousand
- current assets: $382 thousand
- current liabilities: $3.3 million
- quarterly revenue: $150 thousand
- quarterly net loss: $1.1 million
Whether SKLN can run outside the borders of a promotion is always the question. Still, at 41 cents this ticker is low enough for longer-term hopes. And it is not promising anything untested, rather, it is covering a well-established need in medical procedures.
In this, the ticker resembles SafeStitch Medical, Inc. (OTCBB:SFES), the surgical meshing producer. After a good run, this stock is heading into a logical correction, starting Wednesday as its second day of losses in a row.
At the same time, long-term darling Advanced Cell Technology, Inc. (OTCBB:ACTC) is giving no signs of recovery, digging down into the 50-cents levels. ACTC has been deflating after testing investors’ patience for too long, and not providing enough encouragements and signs of upcoming marketing success.
If you still believe SKLN has a long way to go, keep in mind that medical tickers tend to stall suddenly if the good news run out. Find the comfortable levels on your own, and don’t invest sums that you cannot afford to lose in whole or in part.