in response toby
posted on Apr 11, 2010 07:21AM
Pennsaid will take the pain away!
Welcome to this hub. It is certainly not the busiest on Agro but a select few post here from time to time.
I have been involved with NRI for over 7 years when it was known as Dimethaid Pharma (DMX) and hate to say I actually purchased my first shares in the $13 range.
It has been a very tumultuous period with very many ups and downs. The stock was always within months of getting FDA approval for Pennsaid and when they finally received approval last Fall, we all thought the stock would finally show a great return but after spiking in the 40's cent range, it drifted back to the mid 20's and now news has come out that the Company is considering a reverse consolidation of an unknown amount maybe 10-1 or more to boost the price so they could obtain a listing on one of the major US Stock exchanges. Many years ago as DMX, the stock was on the Toronto Stock Exchange as one of the chosen ones to gauge the market everyday, needless to say, it since fell to penny status and lost very much respect along the way.
I personally got back in last Summer when FDA approval was very much expected only to fail again in August and cause another severe drop in share price when it was around the 50's range. Since Coviden was announced as the US partner, very little news has been forthcoming from the Company and everybody has been waiting for the US launch by Coviden and hoping to finally get some appreciation on share price. The last thing many want to hear is that the Company seems to be inclined to do the reverse split thing, and , many further feel, dilute their shares making any kind of significant gain monetary wise improbable in their holdings.
If you follow the stock on the "other site", SH, you will get a lot more feed-back, some good and lots nonsense about NRI. I have moved on again and was very fortunate in switching into SPQ and KWG on the Ring of Fire and personally feel both of these stocks have tremendous [potential, This is certainly not a "pump" for these stocks and with anything you purchase, you must do your own due diligence before putting your hard earned dollars out there. I was entertaining the thought about possibly re-entering the stock but with this reverse split situation in play, much more thought is certainly required before doing so.
I hope I have not been to long-winded for you but feel you deserve an honest opinion from me on NRI. I wish you all the best on this any any further investments you make. rj