Stockhouse Short Report: Biotech stock triples on promotion campaign
Switching from renewable energy to cancer drug development has helped to lift shares of a heavily promoted Montreal biotech firm.
A paid promotion campaign seems to be having the desired impact on shares of Immunovative Inc. (OTCQB: IMUN, Stock Forum), a Montreal biotech junior engaged in the development of cancer treatment drugs.
In recent weeks, Immunovative has been featured by PennyStockProfessor and Research Driven Investors in highly promotional stock alerts that describe the company as an “amazing ground floor opportunity” and potential biotech buyout target.
“Considering the company's current market capitalization is about $40 million, IMUN's stock price could skyrocket by 1,150% within months,'' trumpeted PennyStockProfessor in an August 15 alert.
A gain of that magnitude appears to be a huge stretch for a money-losing company that seems to be little more than a highly speculative biotech play.
It's why the promotion campaign helps to explain why the stock has tripled in value during the last four months.
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