Advanced Cell Technology Benefits from Mendacious PR
Why would ACT issue a press release in variance from the actual paper published in Nature? To garner a mountain free, positive publicity, to be sure. But to what end? Follow the money. Here is a potential answer. In the wake of this mass media stampede, ACT's stock has risen about 400%. Investors should do their due diligence more carefully. ACT has a history of money problems temporarily remedied by hyped stories about their supposed breakthroughs that later turn out to have been less than meets the eye.
posted by Wesley J. Smith @ 9:45 AM
2 Comments
2 Comments:
Regarding the financial incentive - ACT announced today that it has received financing, likely as a direct result of this announcement.
The stock is down 35% today and is trading at 20x average volume - looks like investors are starting to realize the stock price became inflated from over-hype.
Thanks for the valuable information. Too bad for some that they didn't look more closely before they ran the stock up.
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