New York (December 13th, 2012) - The sell-off in Superior Venture Corp. (OTCQB: SVEN), a company engaged in the business of making films, is continuing in mid-day trading today. SVEN had rallied more than 200% on November 27, however, since the stock has seen a huge sell-off even as the company made some major announcements.
SVEN is down 27.44% to $0.0275 in mid-day trading today on above average volume of 15.59 million. The stock has fallen nearly 70% in just the last three trading sessions.
On Wednesday, SVEN had announced that its subsidiary Ilustrato Pictures plans to triple its Chinese film co-development roster over the coming year. However, the news has not had positive impact on the stock. Instead, the stock has continued its downward slide.
OncoSec Medical Inc. (PINKSHEETS: ONCS), an emerging drug-medical device company engaged in the development and commercialization of medical approaches for treatment of solid cancers, is sinking in mid-day trading today after the company announced that it entered into definitive agreements with institutional investors to sell nearly $7.2 million of securities in a registered public offering .
ONCS has fallen below $0.275 support level as a result of today’s sell-off. The next support level for the stock is at around $0.22.