In the space of 10 weeks shares of Unipixel (UNXL) more than tripled from $6.00 in November to a high of $19.67 in January. Trading volume increased as much as 100 fold from just $200,000 per day to over $20 million per day. The catalyst for this upward move was a press release which came out on December 7th and an outpouring of bullish opinions from SeekingAlpha authors. The predictions from the authors have consistently stated that the company is a 10-20 bagger and will quickly become a “multi-billion dollar company”.
Since that time, the share price has quickly fallen back to $13.80, a decline of 30% from the recent high of two weeks ago. The shares have now declined in each of the past five trading days on substantial volume of around $12 million per day.
MDB pulls its research and Unipixel begins to plunge
Two things are contributing to the continuous drop. First, two short biased articles came out questioning Unipixel’s technology. Second, immediately after the short articles, MDB Capital removed all of its research reports from its website with no announcement or explanation. These pages had all been available to any reader up until two weeks ago when they were suddenly removed. MDB had also eliminated all reference to a number of former case studies which highlighted 10 bagger stocks which have since imploded to pennies on the pink sheets.