Sell Provectus Pharmaceuticals (PVCT)   11 comments

There is a brutal takedown of Provectus Pharmaceuticals (PVCT) over on The Street today. That is why the stock is dropping like a rock, and I’m taking my remaining profits and running. I sold my remaining shares at $2.62 today.

The final line:

PVCT: -2.60 today, +1.69 overall to $2.62 (-49.81% today, +181.72% overall)–bought at $0.93

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Posted January 23, 2014 by edmcgon in Portfolio Moves

11 responses to “Sell Provectus Pharmaceuticals (PVCT)

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  1. I guess your buy above $5 advice yesterday was bad timing

  2. Wouldn’t surprise me if Cramer or his cronies were short the stock.

  3. I couldn’t type fast enough and kept having to lower my limit sell orders. Managed to sell all at an average of 3.90. I had sold my original stake (around .95 average) and a little profit several weeks ago when it was still around 1.50. No regrets, Ed, and thanks for the heads up on this one. I think I’ll wait until tomorrow and see what happens/if there’s any real news as I may want to buy some back at some point, although I’ve been happy with my other biotech penny stocks: CTIX, ONCS, NNVC.

    • QD,
      The way I look at it is this: Not every penny stock is a winner, so any time I can walk away from a losing penny stock with a triple digit gain, that’s a good day.

      • I could not agree more. I don’t think I’ll be selling off any more of my pot stocks though, until after the Pot Bowl.

      • Ed – look at your account. All the money I sold off from PVCT this am is gone. I called Fidelity and they said this was b/c of a “name change” to the stock, but the money is there, it’s clear in my history I sold it. It is the same for your broker? The Fidelity rep didn’t know what this meant and he’s researching it. I nearly had a heart attack when I saw my portfolio down so much. Is yours the same? Do you know what this means? There were rumors the stock was going to be uplisted, but even if that’s the case, why would that cause the money to appear to disappear?

      • QD,
        I can’t access the fund details from my phone, but the transactions show correctly, and the balances look right. I use IB, so this could be a Fidelity problem.

        For what it’s worth, in my Fidelity account, when I sold my NNVC earlier this week, the money from it is still kind of buried on my balances screen under “pending activity”. Check to see if it’s there?

      • Fidelity told me b/c there has been a name change, and b/c of this, the sells did go through, but it’s not showing in the balances. It has not been credited to the balance yet, but it should be updated by tonight’s nightly cycle, the latest by the settlement date which is 1/28. He tried to pull up the quote on PVCT but he can’t and doesn’t know why. He thinks it’s b/c of the name change. I asked him if it could be b/c it has changed exchanges/uplisted (which was part of the rumor recently contributing to the run up), but he said he didn’t know.

      • QD,
        I don’t see any announcement from the company, nor are there any new SEC filings, unless they were just made today.

        Their stock symbol hasn’t changed, so the name change excuse was pretty lame. They did change their name recently, but it wasn’t a significant name change. It’s now Provectus Biopharmaceuticals.

        I did check on my Fidelity account and I wasn’t able to pull it up there. Something is wrong with Fidelity.

  4. Same here QD.. Ed, thanks for the update this morning. I tried(not knowing) to get a stop loss,but not on a pink slip I learned. Twas still going up and I left on an errand and when I got back it had fallen. Did get out at 4.35. Thanks again.

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