- 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.