Asensio Gets on American Oriental Bioengineering (AOB)

Posted in Uncategorized 
September 22nd, 2009

American Oriental Bioengineering Inc. (NYSE: AOB) is still low volume but it is going to be under pressure today.  If you recall a site called Asensio.com, the site has brought up two issues regarding the company.  The notes are discussing the chairman’s “questionable second passport and potential undisclosed conflicts of interest” and also notes that “AOB’s disclosures concerning director Cosimo Patti appear incomplete.  As of 8:37 AM EST we have only seen about 7,000 shares trade hands and average volume is over 1.4 million shares.  As Asensio has nailed many other companies in the past, we’d keep an eye out here for highger volume.  So far the drop is only 1.5% at $5.30 and the market cap is $421 million before the effects of the drop. -JON OGG

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