Bionovelus, Inc. (OTCMKTS:ONOV) Keeps Going Up
Bionovelus, Inc. (OTCMKTS:ONOV) began to climb the charts back in the end of April and we immediately saw its daily volumes increase. It has managed to come out of double zero territory, where it was being traded back then, and make an impressive climb up the charts.
By now, the ticker has reached a market cap of around $35 million, which seems quite inflated in our opinion. This is simply because ONOV’s latest financial report is full of disappointing numbers. Here are just some of them.
- cash: $4
- current assets: $4
- current liabilities: $681 thousand
- revenues: ZERO
- net loss: $25 thousand
No, we haven’t missed out on a zero or two when mentioning the cash and current assets of ONOV. This and the fact that ONOV hasn’t issued any press releases for sixteen days now and keeps going up is why this run is so strange. There is also an obvious lack of a paid promotion targeting the company stock.
The ticker did hesitate a bit in Wednesday, but gained another 13.33% yesterday, closing at $0.43. A total of 491 thousand shares changed their owners, generating $190 thousand and showing that ONOV isn’t as heavily traded as it was, but is still able to gain altitude.
Today we see that ONOV is still climbing the chart and will likely finish he week in the green. Still, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.