Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Generex Biotechnology Corp
So what: There was confusion in the market this morning causing a wild swing in Generex's share price and halting trading for a period. Investors are also trying to digest news of the Global Medical purchase and a reverse stock split and rights offering by the company.
Now what: This was a confusing morning for investors trying to make sense of a lot of news. The Global Medical Direct stake will be 51% of the company, expecting $30 million in revenue and $8 million in net income. For the stock offering, as of now it appears the company will offer common stock and warrants to existing shareholders if a reverse stock split is approved on Friday.
Interested in more info on Generex Biotechnology? Add it to your watchlist here by clicking here.
