Are These Stocks Worth The Risk? Great Basin Scientific Inc (GBSN) and IGI Laboratories Inc (IG)
New York, NY – GDP INSIDER – 03/30/2015.
This article discusses two companies: Great Basin Scientific Inc (NASDAQ:GBSN) and IGI Laboratories Inc (NYSEMKT:IG)
Great Basin Scientific Inc (NASDAQ:GBSN) surged 40.01% or $0.78 on Friday with stock ending up at $2.73 on very high trading levels of 2.693 million, compared to its three month average trading volume of 0.088 million shares. The developer and manufacturer of test kits and analyzers for patented molecular diagnostics system in single pathogen tests started the climb on no major news, other than the stock passing through a strong bullish MACD crossover. The stock has been underperforming the S&P 500 for the last 52 weeks as it has lost over 53.4% of its value YTD, compared to the index which has gained 10.94% over the same period. So far this year however, the stock has been performing better and is now up 10.98% compared to the S&P 500, which has only gained 0.10%. With RSI now at 60.75 the stock does not yet look overvalued but may correct downwards making it a risky hold.
IGI Laboratories Inc (NYSEMKT:IG) bounced back from Thursday’s fall to gain 5.41% or $0.45 on Friday to close at $8.77 with more than 1.232 million shares changing hands, compared to its three month average trading volume of 0.998 million. The developer and manufacturer of generic topical pharmaceutical products saw the gains after it announced that it had submitted its first abbreviated new drug application in 2015 to the U.S. Food and Drug Administration (FDA). With this latest application, IGI Laboratories Inc now has twenty three drug applications pending according to the President and CEO of the company, Jason Grenfell-Gardner. If all twenty three are successful, this would allow IGI Laboratories Inc to access a market worth at least $623 million. With the stock just passing a weak but bullish MACD crossover and RSI of 44.45, the stock could climb further and is definitely worth looking at as a medium term speculative buy.
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