TheStreetSweeper Says Warned Investors about Coronado Biosciences Months Ago
TheStreetSweeper called it right -- once again. Coronado Biosciences (NASDAQ: CNDO) collapsed right before our very eyes this morning, the victim of the pig whipworm clinical trial failure that we predicted back in mid-July! CNDO announced its Crohn's disease treatment, TSO, failed to hit both its main and secondary goals. Patients on TSO did no better than patients on a placebo and were no more likely to go into remission.
CNDO reached $8.65 the day that TheStreetSweeper first warned investors about the company. Shares plummeted early in trading today to an all-time low of $1.73, finally closing at $1.91.
Given its impressive track record – and the extensive nature of the research that it conducts – TheStreetSweeper encourages investors to look for more than short-term swings in the stocks that it covers and exercise the patience often necessary to validate its investigative reports instead.
Just take a look at the risky stocks that TheStreetSweeper has exposed so far this year. While some of them failed to respond immediately, most of those stock charts look downright ugly right now: LOTE, exposed as a likely pump-and-dump scheme back in May at $10 a share, now trading for mere pennies and therefore practically worthless at this point; CNDO, flagged in mid-July at $8.65 a share, down almost 80% to less than $2 following its sudden collapse this week; TEAR, highlighted as overvalued at $14.40 a share back in early August, now stripped of close to one-quarter of its previous value and languishing below $11 a share; XONE, scrutinized near its high above $70 a share late this summer, fetching 27% less at $52.45 just two months later; and ZEN.V, a heavily promoted stock that actually bounced above the $4 mark after TheStreetSweeper sounded a loud alarm about the company a few weeks ago, now down 27% itself as well.
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