Shares in stem cell penny stock Advanced Cell Technology, Inc. (OTCBB: ACTC.OB) dropped -1.12% on in its last trading session to close at $0.0880. ACTC’s total outstanding common stock is outrageous large at 2,029,049,544, almost all of which are floated in the OTC market, which the company has recently addressed in hopes of gaining the apporval of the penny stock’s shareholders in an upcoming shareholder meeting.
ACTC traded 5,889,728 shares in its last session, an average trade size of 15,747 shares, which was roughly half, 50%, of the 5-day average volume traded; 11,101,076.
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ACTC has dropped -21.78% in the last 20 days, -36.92% in the last 50 days.
Insiders hold only 8.35% of the total outstanding ACTC common stock. Considering the stem cell stock has a market capitalization of only $178,556,360 for its total outstanding common shares of 2,029,049,544 seems irrational that the penny stock would have any value.
Looking at ACTC stock price history, the share price of the penny stock has traded within the $0.075 to $0.22 range during the course of the last 12 months.
On March 14th, ACTC Chairman and CEO,Gary Rabin , announced that, upon shareholder approval, a reverse stock split should better align ACTC’s capital structure with its stage of development, and an accompanying Nasdaq listing application.Share