Adamis jumps on no news


Shares of thinly traded nano cap Adamis Pharmaceuticals (ADMP +24.9%) jump on a 5x surge in volume albeit on turnover of only ~540K. Prices peaked at $5.27 earlier today representing a 100% gain from the August 15 low of $2.62. Shares are now poised to break the long-term downtrend line. Prices peaked at $18.70 almost two years ago.

There is no specific news today to account for the move. CEO Dennis Carlo reshuffled the BOD last week, though.

Nine mutual funds have positions, up from one a year ago.

Comments (3)
  • brichnyc
    , contributor
    Comments (75) | Send Message
     
    Here is the news.
    Pfizer (PFE) Is Talking To Adamis Pharmaceuticals (ADMP) Predicts Sierra World Equity Review
    Latest Projections: Pfizer (PFE) Is Talking To Adamis Pharmaceuticals (ADMP) Predicts Sierra World Equity Review. Shares of ADMP were trading higher up over 23% during Tuesday's session. Look for the official news coming, when it does remember you heard it called here first!
    2 Sep 2014, 01:27 PM Reply Like
  • Tridentine
    , contributor
    Comments (113) | Send Message
     
    Oh yea Pfizer is talking to them. The problem is its probably a guy named Larry Pfizer that lives in a van down by the river.
    2 Sep 2014, 04:08 PM Reply Like
  • James W. Burke
    , contributor
    Comments (202) | Send Message
     
    Sorry for the late comment but just saw this "Breaking news".

     

    This jump was due to positive mention by SIO Capital's Hedge Fund Manager, Michael Castor, in the late August Insider Monkey mini newsletter. He thinks their EPI PFS product alone is worth at least $12 a share, more if it can get some of the commercial space. I recommend anyone invested or thinking of investing in ADMP to get a copy.

     

    That PFE buyout rumor was just that - BS rumor.
    30 Sep 2014, 04:27 PM Reply Like
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