Anastas Gegov

Propanc Health Group Corp (OTCMKTS:PPCH) Gets Corrected

by Anastas Gegov April 28, 2016

Propanc Health Group Corp (OTCMKTS:PPCH, PPCH message board) managed to keep to most of the gains that it made in the beginning of March when it vigorously climbed the charts, gaining impressive value. As trading quieted down, so did the daily movements, but PPCH embarked on an upward run once again.

 

While PPCH began to ascend the charts we saw the volumes increase. The small market cap of the company meant that it can make such prolonged upward runs without much trouble, unlike other OTC biotech companies that are in a similar financial state.

 

  • cash: $1.1 million
  • current assets: $1.5 million
  • current liabilities: $4.8 million
  • revenues: ZERO
  • net loss: $3.5 million

 

The small market cap and the rather decent balance sheet are some of the reasons for the upward runs that PPCH records. But they are also the reasons for the promoters that often mention the company in their alerts.

 

Recently we have seen Emerging Growth, the Daily Stock Reporter and The OTC Expert all mention PPCH in their reports. Still, after all the climbing the ticker corrected and dropped 9.52% yesterday. As PPCH was going for a close at $0.038 we saw a total of 36.34 million shares change hands and generate $1.39 million in daily dollar volume.

 

The company stock is already another 10.66% down the charts in today’s trading and it might record even bigger volumes. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.

Comments 0

Type the characters that you see in the box (5 characters).