It doesn’t mean that all is lost if stock continues to slide down over a couple of weeks. Sometimes recoveries can be just as quick as short rainfall.
For instance, the Palatin Technologies Inc (NYSE: PTN) stock has declined by as low as 40% over the course of the past two weeks. However, in recent days, the stock has been in recovery mode and it might be a good idea to keep an eye on it over the coming days.
Back on February 17, the company announced its financial results and reported a loss per share of $0.04 a share. It was higher than the analysts’ estimates of a loss of $0.02 a share. In the prior-year period, the company had suffered losses of $0.02 a share. It may have come as a bit of a shock for investors since it represented a negative 100% surprise on the earning front. In the prior-year period, analysts had estimates losses of $0.03 a share.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.