Replies to post #2876 on Nexien BioPharma Inc (NXEN)

[FELLER]

I touched on this in one of my first NXEN blogs:

If you’re wondering, “Why did they drop from $4.00 to $0.38 in the last month?” NTVA did a reverse merger with $KDRH and then a reverse split. There was such a tiny amount of shares (247,225 to be exact) available prior to the 2,463,466 that were registered via the S-1 on June 28, 2018. You can look NASDAQ’s Historical Stock Price site to verify the volume and share price on each day. It wasn’t until July 10, 2018 that NTVA finally saw some volume from the newly unrestricted shares. That’s also the day the share price went from $3.44 to $1.55 before closing at $2.00. As time went on and more shares were moved from Transfer Agent to Brokers, the volume got higher and the price dropped to a more realistic figure in terms of Market Cap.

http://ownthefloat.com/index.php/2018/07/29/ntva-heres-why-i-invested-in-intiva-biopharma/