Swiss Medica Surges Higher, Remains Risky
Swiss Medica, Inc. (SWME) shares moved up more than 1,000 percent on Monday, but it remains a risky investment given its lack of news and financial updates since 2007.
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Swiss Medica, Inc. [[SWME.PK]], an all-natural specialty pharmaceutical company, shares broke out over 1,000 percent higher on Monday on no news. In fact, the company has not released a single piece of news or filed a financial report since August of 2007.
During the second quarter of 2007, Swiss Medica reported gross profits of $60,894, but total operating expenses of over $1 million led to an operating loss of $986,520. Meanwhile, interest on its loans further compounded the loss to more than $2.2 million.
While Swiss Medica’s stock continues to trade, it is appears that it has ceased to be a reporting public company. This is bad news for shareholders as its financial condition remains uncertain with no reports in almost two years.
In the end, Swiss Medica remains an extremely speculative stock that day traders have pushed higher. Prudent investors may want to stay away from the company until it provides updated financials and news of its plans going forward.
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