Author: Melanie Hollands
SCOX is a dying stock, but it will take a while to get to zero. There’s no technical support at its current levels ($4.50 to $5); however, it has no upside technically. It also has no upside fundamentally, unless something changes dramatically at the company, which I don’t see happening.
The stock has fallen more than 78 percent since Oct. 16, 2003 — the date of the PIPE deal (see Chart 1 below.) That’s a lousy return for shareholders — particularly for PIPE holders who held large positions.
The stock has fallen more than 78 percent since Oct. 16, 2003 — the date of the PIPE deal (see Chart 1 below.) That’s a lousy return for shareholders — particularly for PIPE holders who held large positions.
