Cerebain Biotech (CBBT) Stock Continues to Trend Lower: Will it Recover?

The Cerebain Biotech Corp (OTCMKTS:CBBT) stock has had a pretty tough time over the course of the past month and the rout continued yesterday.

The stock went down by another 27% yesterday to takes its losses for the month to as much as 67%. That said, it is also necessary to remember that there has been no specific news about the company in recent times that might have led to such a big decline in June so far.

The last major news regarding the company emerged in April this year when the company provided an update with regards to its share exchange agreement with PKG Inc. As per the agreement, the price for purchasing PKF Inc was set at $2.34 million and it was going to be paid in Cerebain common stock, which had been priced at $0.07 each. At the time, it was also announced that the company was going to file the registration statement 6 months after the closing of the deal.

Market Reaction:

On Wednesday, CBBT slid by 26.47% to $0.0050 with more than 8.07 million shares, compared to  its average volume of 8.81 million shares. The stock has moved within a range of $0.0030 – 0.0070 after opening the trade at $0.003.

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