iBio (IBIO) Lower On Negative Article
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Shares of iBio, Inc. Common Stock (AMEX: IBIO) are seeing some pressure following a negative report at TheStreetSweeper.org.
According to the report:
First and perhaps foremost, they say, IBIO faces a looming secondary offering that will allow holders of low-priced stock – including a tainted brokerage house with a buy rating on the name – to cash in huge gains on millions of cheap shares. By increasing IBIO’s share count by 45%, they note, that offering alone could slash the company’s stock price by almost half. But even without the threat of massive dilution, they say, IBIO looks like a grossly overvalued company that resembles its former parent far more than it does a promising biotech play.
You can read the entire report here.
According to the report:
First and perhaps foremost, they say, IBIO faces a looming secondary offering that will allow holders of low-priced stock – including a tainted brokerage house with a buy rating on the name – to cash in huge gains on millions of cheap shares. By increasing IBIO’s share count by 45%, they note, that offering alone could slash the company’s stock price by almost half. But even without the threat of massive dilution, they say, IBIO looks like a grossly overvalued company that resembles its former parent far more than it does a promising biotech play.
You can read the entire report here.
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