I know how you feel - look at my WKBT. The CEO first promised to give earnings projection for the year ahead, then said he wasn't. Then he took the company dark and cancelled the email account.
Impossible to tell. After all, they pumped up CPSL 100% in one day on absolutely nothing. This is a pure role of the dice with no way to know the outcome.
NO - if you bought 250 shares a day you could NOT create an upward trend. The MMs are the only ones playing this at the moment and their goal is to keep a wide spread and pocket the difference. You however will never be allowed to buy the lows or to sell the highs.
But all that is meaningless anyway. The chiscam stocks have been on fire since October for some reason even though chinese stocks have gone nowhere over the same time period. The only real hope here is that Guo gets greedy and decides to issue financials in order to cash in on the trend himself. Even at a low P/E of 6 he could get $9 right now. Who know if after the DYNP and DGWIY lawsuits are settled if he will or not.
Good luck with the SEC - unless they think that they can levy a hugh fine and make money for themselves they'll likely do nothing. And if they do act, they most likely will not even be able to serve papers on the company in China. See the DYNP case for example: File No. 3-15389
It is important to remember that the stock price of BSPM isn't based on reality. The chiscams are just tools used by stock manipulators. Starting last October they started taking them all up for no apparent reason. Although those in the biotech sector did have the winds of that sector behind them; see IBB. All the chiscams will go up until the manipulators initiate the big dump and go short again. They can even take them up almost 100% a day on nothing as they did CPSL Thursday. The most surprising aspect of the chiscam pump is that chinese stock are flat, see FXI.
The best one can do is hope to go along for the ride while getting out before the rug is pulled out from under you.
And so what?
BSPM does all the work to determine dosage, effects & case studies and then?
They can not patent anything. Oleanolic acid is like vitamin E.
How are they going to make money - that's the question!!!
Can you tell me that?
If my broker would have let me; I would have shorted this chiscam at the open and walked away with a quick 10% gain. That being said, shorting the chiscams at this date and time for more than a day is suicidal!
China Precision Steel lost $3.34 last quarter; however, that didn't prevent them from jumping 94.27% today for no reason whatsoever!
Someone is manipulating the chiscam stocks as can easily be proven. For example: Here on Yahoo you will notice that the people viewing these trash stocks are also listed as those viewing legit stocks - as if a BAC trader would be interested in such!
Last October the manipulation of all the highly shorted chiscams began and who knows when it will end. My only hope is that they can pump then past the $5 mark so that I participate when the manipulators short them back down.
So you enjoyed the ride down from $14 to $1 and then only up to $3? And I'm the "contrary indicator?" Then I say sell your house and everything else you own and buy BSPM!
Glad you made money on this scam. The big word in biotech is CANCER! So they used it. I just wish that I could short stocks under $5 and I would have shorted the open. The news was totally bogus and I felt that the company was working with the manipulators to create volume for them to sell into. Time will tell if I was right.
No I've only lost money on this stock, since I owned it before it crashed. But not that much since I took a small loss and didn't ride it all the way to the bottom.
As far as the recent rise, it isn't frustrating at all to watch. The only ones who will be frustrated are those who have learned nothing and ride it back down again.
Looks like the fake cancer news release created quite a rally. So now when do the manipulators unload?
Looks like they are going to play the current lunacy for all things biotech to the full by exploiting the public's ignorance of what Oleanolic Acid actually is and does. It is not going to cure cancer although it may prolong life since it does suppress tumor growth and has been found to prevent fibrosis in the last stages of renal cancer in mice. And since Oleanolic Acid is a naturally occurring substance on par with olive oil, they aren't going to be able to patent it.
That being said, the stock should soar since there is a mania for all things biotech and there are few investors who are going to ask deep questions. Their timing at least is impeccable.
The truth hardly matters in the current momentum driven market. Just look at CJJD soar - a huge money loser. Anything pharma is on fire because the entire sector is the flavor of the day for manipulators and momentum investors.
Continue to enjoy the ride up as the bubble expands - just don't hang around when it implodes!
The attorneys are only out to make fees for themselves. Their goal is to capture 20-30% of any settlement. Normally investors get only around 10 cents. See the recent DYNP settlement for an example.
The worst part is that management will admit to no guilt and most of the funds for the settlement will come from an insurance policy. Even worse is that after that, the company normally goes dark leaving investors holding worthless paper.
NO - it's just following its sector which is on fire. As long as IBB surges higher, so should BSPM, unless they do something stupid.
The chinese biotech stocks have been soaring - just look at BSPM and SKBI. If Wang, the CEO here, had continued to put out earnings; he would be would have been able to make much more than he did by stealing all assets and going dark. SKBI, with the same earnings as WKBT once had, is @$6.00; and BSPM, which may have break even earnings after huge losses, is near $3.00.
Our only hope is that Wang is paying attention to his all this and he is having second thoughts.