Rosetta Does the No-No (ROSG)

Posted in pre-market 
January 14th, 2010

Rosetta Genomics Ltd. (NASDAQ: ROSG) is showing exactly what not to do. Shares are down over 30% this morning after the company is raising cash via a registered direct offering of stock to raise $5.1 million.  The problem is that this came right on the heels of a big gain yesterday on headlines of “Rosetta Announces that Johns Hopkins University Researchers Demonstrate miRview squamous Classifies Non-Small Cell Lung Cancer with Extremely High Degree of Accuracy”…  Shares are down 30.7% at $2.14 on 50,000 shares as of 8:28 AM EST compared to average volume of 38,000 shares.  Traders chased this up on over 1.2 million shares yesterday and the stock closed at $3.09 after having been just at $1.85 the day before.  When investors see big news followed on the same day with a capital raise, they feel like they just played the shell game.


Comments are closed