Shareholders of nano cap Provectus Biopharmaceuticals (PVCT -17.8%) have had a rough ride since its debut on the NYSE MKT exchange last Friday. Shares peaked at $3.75 but quickly reversed and bottomed today at $1.55 on a 5x surge in volume. This represents a 59% smackdown in just a few days. It appears that there are some doubters about its prospects.
Bears include The Street's Adam Feuerstein who is skeptical that the FDA will grant BTD status to the company's lead product PV-10 and SA Contributor The Pump Stopper who questions everything about the company including its 4-person-strong workforce, the questionable track records of its executives and its relationship with paid stock promoters.
Retail investors should stay on the sidelines with this one until these issues get clarified.