Marina Biotech, Inc. (OTCMKTS:MRNA) Bounces On News
The stock of Marina Biotech, Inc. (OTCMKTS:MRNA) was revived recently as a promising pharmaceutical bet for investors after it was announced that they have acquired $6 million in funding at the cost of issuance of shares.
This was good news, but what is alarming is the fact that the convertible preferred stock that was issued for the funding has a conversion price that is far lower than the current market price as we mentioned in our previous article.
Still, the good news coming from the company are managing to provide decent runs for MRNA. Yesterday thee announced that there is potential in applying their microRNA and RNAi therapeutic platforms to develop drugs for the treatment of rare disease.
This managed to provide a 16.67% boost for MRNA, as the stock closed the session with a price of $1.40 per share. We saw above average volumes with 585 thousand shares changing their owners and generating $825 thousand in trade value.
Investor messsage boards are buzzing and everyone is excited by the recent movements in the company stock, however, how long can this last. For now it seems that the trend seems to be on the good side and the ticker has gained a total of 218% since the beginning of the year.
In any case, the potential of this stock is best if it is viewed as a long-term investment, but there is a lenghty period of time until we will see whether MRNA is going to become a profitable company. This is the exact reason for which we would advise you to do your due diligence and weigh out the risk before making a decision.
We see a renewed interest in Medical Marijuana, Inc. (OTCMKTS:MJNA) and Growlife, Inc. (OTCBB:PHOT) as they had some nice gains yesterday and registered $10 million and $24 million in dollar volume respectively, but have started today’s session on a bad foot.