|Generex Jumps on Announcement of Conference Call|
|By Vinny Cassano|
|Wednesday, 23 March 2011 20:38|
Shares of Generex Corporation jumped by over twenty percent during early trading on Tuesday and rose andother 3.32% on Wednesday after the company announced that March 30th was set for a conference call to outline the path for the future of the company, as developed by interim CEO Mark Fletcher.
Volume was up by nearly three times the daily norm and it's worth noting that the spike in price did not come until roughly an hour into trading, when the announcement of the call was issued before the market open. It could be that there is more going on behind the scenes than just your average call, but it could also be an indication that investors have itchy trigger fingers right now since there has been no heartbeat from Generex since all the commotion about the failed reverse split late last year.
Not only did the volume of shares traded spike in conjunction with the conference call press release, but the GNBT 'get bash crew' was out in full force, cluttering message boards around cyber space with messages of doom, gloom, failure and fear.
It always cracks me up when these guys are allowed out to play, most of whom are undoubtedly fat cats sitting around a laptop in their Batman & Robin underoos with a bag of Lays Golden, but it's safe to assume that there's an agenda behind the madness.
After all, it's just not human nature to spend that amount of time conducting such a petty activity unless there's something coming in return; unless of course, someone's just carrying a big chip on their shoulder.
Regardless, it looks like there's life again in Worcester, but conference call or not, this mumbo jumbo means nothing unless investors receive a precise account of where Oral-lyn stands in the Phase III stage of development. Unless a partnership deal or outright sale of AE-37 is announced, we don't care.
Oral-lyn is the short term market mover for Generex and you would think that the product was abandoned with the lack of a recent substantial mention.
Tuesday's spike has us interested, but it's up to the company to let us know if it was a false alarm, or is something here for real?
I guess we stay tuned for the 30th to find out.
Disclosure: Long GNBT.
Vinny also authors the popular stock investing blog VFC's Stock House.