- Nanoviricides' (NNVC) shares plummet 25% after Seeking Alpha author Pump Terminator labels the company a "house of cards with 80% downside," and gives the stock a "strong sell" recommendation.
- It goes without saying that Pump Terminator is short Nanoviricides, which develops anti-viral therapeutics.
- Nanoviricides is "the worst U.S. reverse merger we have ever seen" and is "obviously a vehicle designed specifically to enrich insiders," Pump Terminator writes.
- Pump Terminator accuses the company of stock promotion and heavily diluting shareholders "as insiders siphoned off millions of dollars."
- Pump Terminator also believes that one of Nanoviricides's top scientists has been dishonest, calling into question its technology, which "is clearly not viable."
Nanoviricides plunges following SA article
Feb 11 2014, 09:58 ET