Well, the name of the company alone would have made me suspicious... Cingulates are a class of animals. It includes horses, cows, and deer. Basically it's animals with hooves. Why would you name a drug company something like that?? Okay, wait a minute I'm thinking of ungulates Nevermind Wasn't cingulate the name of a wireless carrier back in the 90s? Or maybe that was Cingular I thought cingulate was an asthma medication Okay, maybe I'm thinking of Singulair nevermind
Is it possible the news is not as amazing or pro biotech investors think different? I know recently ORIC and CRBU did private placements and their stocks hauled ass! You can tell the quality of dilution and news by price. Look at the great news VBIV released in AH, stock jumped $2.4 to $4.50. Minutes later they announced the Flood of shares and warrants. Stock opened at $1.08 next day but the news was so good?
There is also the possibility that you are correct and you just exited on a "sell the news" hiccup. You might want to think about what would you prompt you re-enter. Armchair quarterbacking penny stocks is pretty easy. Pure VC has a very low success rate, but monstrous returns when you are correct. FDA approval, if it ever becomes reality, would be huge.
There is cingulate gyrus and cingulate cortex which are parts of the brain and hence the name of the co.
A biotech company with no product & no revenue is a lottery ticket. How do you value a lottery ticket? Is $1 cheap or expensive? Is it cheap at $0.30? Money losing company with NO product. How much investors are willing to pay depends upon how likely the product will get approved then how big is the market they're addressing with the product. If approved, what will it cost to produce & market the product? Can they sell enough to pay for costs? Most biotech without a product is a gamble & not an investment so play with small $$. Personally, I've lost more than made in biotech so mostly avoid now.
I'll attempt to assist. As a trader you can fall in love or be interested in a stock for several reasons. You may like the story, you may like the share chart, you may like the fundamentals. But the bottom line for a trader is they think they can make money, so they buy in because they believe for a number of reasons share price will rise and you can sell later and become rich. As a noob you have to understand one thing and one thing only, there are a huge number of very smart people involved in trading, not only traders but coders, bosses, employees, computer whiz kids, gamers etc. If the share price is rising or falling, the news, the fundamentals, etc doesn't mean a lot, shares can rise on bad news and fall on good news. The people in control of price control price to manipulate it, allowing it to rise to offload and fall to get a better bargain. CING stock is falling, it has terrible turnover, no one is much interested in it other than perhaps shorters. CING suffers from low liquidity and high volatility. If you enjoy pain, then go ahead and attempt to trade this POS. It's a penny stock pump and dumper and a lousy one at that too. If you read any news articles about this stock beware the news is probably slanted heavily to suck in noobs. Don't believe anything other than about 5% of what they spout on about on penny stocks. From trading originally at $5 to now 80c in 20 months, there is nothing quality in this company, certainly not for an investor or long trader.
%% Good points\ on that down trending chart. I'll use your chart\200+ days of data + still going down. State Street Corp has 3.8% of MSFT; but has or had 0.38%,of CING but its valued or was valued @$36k. I have picked up pennies in my path, but not as a goal with low volume stocks on Wall Street. Every now + then people find gold coin treasure in a corn field. NOT usually Gold + silver tend to underperform stock market average anyway.Live + learn.
Stick to non-penny-stocks or ETFs with reasonable volume. Or are TSLA, NVDA, FNGU etc not good enough for you?
Big deal,that doesn't mean it's immune from pennystock shenanihans. I'm not touching a stock that only trades 9000 shares all day.