Despite rumors of impending good news, a favorable research report and herculean stock volume, Provectus Pharmaceutical Inc.'s (OTCQB: PVCT) stock lost 64.18% of its value when the market closed Jan. 23.
The New York-based pharmaceutical's share volume skyrocketed at the close of the market Jan. 23 with 30,514,325 shares changing hands, 20 times its 30-day average of 1,509,824 shares.
Some analysts had speculated that the runaway volume is being triggered by the anticipation of some impending news regarding the pharmaceutical’s completed Phase 2 trials on its cancer therapies, namely its PV-10 melanoma treatment. Others speculated that Provectus has already met with FDA in mid-January to discuss what steps the company must take get final approval for its cancer therapies and bring them to market.
But at this time, these are pure speculation and rumors.
Strong buy issued
Meanwhile, Small Cap Street, LLC issued a "Strong Buy," for Provectus stock in a research paper it released Jan. 23. The extremely positive analysis asserted that Provectus stock was undervalued by "nearly 2,000 percent," based on what it deemed the potential of the pharmaceutical's diverse portfolio.
In addition to its cancer and skin disease therapies Provectus is and has developed over-the-counter pharmaceuticals, including GloveAid, a hand cream with antiperspirant and antibacterial properties. It is also developing Pure-ific line of products to prevent the spread of germs on skin and Pure-Stick and Pure N Clear acne products.
Stock loses big
PVCT stock closed at $1.87 cents a share on Jan. 23, down $3.35 from $5.22 the previous day.
Find out what could be the best investor's move when it comes to PVCT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
On Jan. 23, Royal Dutch Shell Plc (OTCQB: RYDAF) stock volume also ripped through the stratosphere with 1,209,613 changing hands, more than 10 times its 3-month average of 110,881 shares.
This comes less than a week after the Netherlands-based integrated oil & gas company released its fourth quarter 2013 and full year 2013 unaudited results, which were quite downbeat.
In a written statement Shell said that its fourth quarter 2013 earnings on a current cost of supplies ("CCS") basis excluding identified items are expected to be approximately $2.9 billion. It added that earnings were impacted by weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes. "Our 2013 performance was not what I expect from Shell," Chief Executive Officer Ben van Beurden said, in the release. "Our focus will be on improving Shell's financial results, achieving better capital efficiency and on continuing to strengthen our operational performance and project delivery."
Despite this negative assessment, Royal Dutch Shell share price is near to its 52-week high of $36.50.
RYDAF stock closed at 36.15 cents a share on Jan. 23, up 75 cents from $35.40 the previous day.
Housing market looks promising
In the mortgage sector, Fannie Mae (OTCQB: FNMA) shares have also continued to be very active. The government-sponsored enterprise, charged with stabilizing the secondary mortgage market, traded 7,582,027 shares Jan. 23, 2014.
Part of the uptick in volume could be attributed to Fannie Mae's positive outlook for the 2014 housing market as summed up in a Jan. 13 statement by its Chief Economist Doug Duncan.
"Despite the rise in mortgage rates since the spring, many housing indicators posted strong gains at the end of 2013 and consumer housing attitudes are strengthening, all of which bodes well for continued but measured housing recovery in 2014," Duncan said in a written statement.
Fannie Mae is not alone in its positive take on a potentially robust housing market snowballing in 2014.
According to a recent report by Wash.-D.C. financial publisher Kiplinger, this is a real possibility. Kiplinger forecasts that new-home sales are likely to soar by a solid 15% or 500,000 in 2014. The company also projects that the time it takes to sell a house will continue to diminish. This would be a continuation of a 2013 trend where new homes stayed on the market for an average of 3.1 months before being sold, far less time than the average 5.5-month average for the last 30 years.
FNMA stock closed at 3.11 cents a share on Jan. 23, up 1 cent from $ 3.10 the previous day.
Find out what could be the best investor's move when it comes to FNMA by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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