This past week, the Inspyr Therapeutics Inc (OTCMKTS:RBSH) stock was one of the major laggards and investors will be hoping for the stock to make a turnaround this week. This past Friday, the stock continued to suffer from a selloff and went down by as much as 15%.
Market Reaction
On Friday, RBSH stock slid 15.83% to $0.0420 with more than 125k shares, compared to its average volume of 224k shares. The stock has moved within a range of $0.0420 – 0.0499 after opening trade at $0.0420.
Latest News
That took the losses made by the stock for the past week to a staggering 35%. While the losses made by the Inspyr stock are considerable, it is also necessary to keep in mind that there was no news at all about the company in the past week. Hence, the strong selloff in the stock may even appear a bit random to many investors.
The last time the company was in the news cycle was back in October this year when Inspyr made two key announcements. The company announced at the time that it was going to affect a 1 for 75 reverse split of its common stock.
On the other hand, it announced that it was going to restructure the holding company by way of which a newly created holding company Rebus Holdings Inc will work as the new holding company for Inspyr. At this point, it may be a good idea to wait for more news about Inspyr before making any move.
Traders Review
RBSH stock is trading below the 20-Day and 50-Day Moving averages of $0.0778 and $0.1174 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.5452.
