Wednesday, March 4, 2015

Nanosphere (NSPH) Stock Manipulation

Nanosphere (NSPH) appears to being subjected to major manipulation these days. On 17 Feb 2015 NSPH had an intra-day low of $0.24. Since then the stock has had three days where more than 10 million shares traded. The day prior to yesterday (2 Mar 2015) NSPH hit an intra-day high of $0.45. Yesterday (3 Mar 2015) NSPH hit in intra-day high of $0.42 before closing at $0.36. After the markets closed yesterday the company issued a press release announcing the following.
[...] increase the authorized shares of its common stock from 150 million to 250 million shares, and to effect a reverse stock split of its issued and outstanding common stock with a ratio in a range of between 15-to-1 and 25-to-1 for the purpose of regaining compliance with the $1 minimum bid price requirement of the NASDAQ Capital Market.

Today (4 Mar 2015), in early pre-market trading, NSPH was down 22%. Right now, one hour prior to the market opening today, NSPH is down 16%.

No comments:

Post a Comment