December 2, 2011

Throwing In The Towel

It was another ugly day for the share price today, with an intraday low of 71 cents.

Comparable lows include
  • 68 cents intraday on October 16, 2009;
  • 65 cents intraday on July 2 and 21, 2008; and,
  • When the stock was at these level last in July 2005.
Painful, for sure. Frustrating -- to you, to me -- no doubt. Where's the sense in this? We're hitting lows not seen for a while, yet, objectively, Provectus is so much more valuable as an enterprise than it was 1, 3, 5 or n years ago.

What should I do? What should you do? I can't tell you what should you do.

It's clear some retail investors have been selling, and taking losses along the way, because they have to or are fatigued as we near year-end. There is interest from institutional investors to buy, but not at levels yet to support the bid in light of retail investors throwing in the towel.

I would not be surprised to see a further drift downwards in share price before year-end. In fact, I am expecting it, unless news related to the top-line results for the psoriasis Phase 2 trial and/or the immuno-studies is released (with this week's PR on the 3rd EOP2M, I do not expect any news related to the SPA until next year).

Does management care about the share price? Some say no. I say yes. But, their eyes are on the prize. The vagaries and volatility of the share price in the interim -- between now and the end-game -- are just that, vagaries and volatility and, ultimately, noise. This is perhaps hard to read, but true nevertheless.

As I have previously blogged, if the warm embrace of big pharma lay at the end of a well lit path, would you not focus yourself and spend your energy on traversing the path?

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