A $93,000 cancer drug that doesn’t work very well was indeed the undoing of Dendreon Corporation (DNDN). The one-time high flyer filed for bankruptcy today, sending shares down 80%. When the dust settled, DNDN closed at 18 cents. Shares had reached an all-time high of $57.67 back in April 2010, when their prostate drug, Provenge was initially approved. Those wacky analysts projected annual sales of … Read the rest
CYNK Technology (CYNK), a “social media company,” has exploded nearly 25,000% since June 17th.
The Anatomy of a 25,000% Move:
Stocks don’t move 25,000%. Ever. Apple (APPL), a world renowned innovator that IPO’d in 1980, has gained nearly 18,000%. That is 34+ years of reinvention, growth, and industry-leading products. CYNK Technology, on the other hand, has gained 25,000% since June 17th of this year, a … Read the rest
When we last discussed 3D printing stocks, about 192 days ago, we noted how expensive the four stocks that comprised the sector were. 3D printing stocks were buried on no news that day and we suggested that it could be the start of a severe downturn. Our assessment was spot on. In a little more than 6 months, the four main 3D printing stocks, voxeljet … Read the rest
Endocyte (ECYT), a small biotech outfit from West Lafayette, IN, finished May as the worst stock performer in all the land. Shares were slashed 65.05% in the month, as the stock plunged from $18.11 per share to close at $6.33 per share yesterday. The stock had traded as high as $33.70 on March 21, 2014 and is now 81.2% off that peak. Shares were destroyed … Read the rest
The population of people willing to shell out $27.99 a pound for Humboldt Fog, a goat-milk cheese from California, is apparently beginning to decline. The reality that Whole Foods (WFM) has been forced to cut its outrageous food prices to keep up with competition, was evident in the second quarter earnings release. The stock was obliterated on Wednesday, dropping almost 19% to a two-year-low thanks … Read the rest
NewLead Holdings Limited (NEWL) is holding strong as the crappiest stock in the entire market in 2014. We profiled its problems in this article a little less than a month ago when the stock was trading at $2.89/share. Now, a mere 19 trading sessions later, which has featured an amazing 18 down days and 1 break-even day, the stock is down to 46 cents. The … Read the rest
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“….upon the recommendation of management and after consultation with its independent registered public accounting firm, UHY LLP, the Company’s Audit Committee and Board of Directors have concluded that the Company’s financial statements and related auditors’
InterCloud Systems (ICLD) stock dropped nearly 30% today after the Rosen Law Firm announced that it is investigating potential fraud in the security, alleging that insiders may have paid outside parties to pump the stock.
The investigation alleges that authors John Mylant and “Kingmaker” published glowing articles on Seeking Alpha regarding the company which helped the stock rally from $2.55 on November 14, 2013 to … Read the rest
In the past six months, NewLead Holdings Ltd. (NEWL) has reverse-split a whopping 3 times: 1:15 on 10/17/2013, 1:3 on 12/6/2013, and most recently, 1:10 on 3/6/2014. After dropping 16% today and closing at a fresh 52-week low of 2.89, it is now more than 325 points off its split adjusted 52-week high of 328.50. This stock is now the [ilink url=”http://www.crappystocks.com/worst-stocks-of-2014/”]worst performing stock of … Read the rest
Body Central (BODY) management will be turning their homework in late and shareholders were punished to the tune of 22% on Friday. The annual report will be delayed because the company still has to finalize year-end adjustments and complete its year-end audit. These activities were delayed due to the company’s focus on receiving a $17 million senior credit facility, which closed in February. Aside from … Read the rest