Boston, MA 10/08/2014 (wallstreetpr) – Investors continued to stay away from the stock of Chinese internet technology firm Chinanet Online Holdings Inc (NASDAQ:CNET) during trading on 7th October. The investor disinterest in the stock was largely driven by lack of confidence in the firm’s ability to maintain a Minimum Bid Price. The developments are linked to Chinanet Online Holdings Inc (NASDAQ:CNET) disclosing on 1st October that it has received a letter dated September 30, 2014 from the NASDAQ Stock Market LLC. The letter had intimated the tech firm that it has “regained compliance with the Minimum Bid Price Rule.” On the back of the regaining of compliance, NASDAQ had ruled that company stock will continue to be listed on the exchange. The stock has lost nearly 8.7 percent values during trading on 7th October trading.
Investors deserted the stock of molecular diagnostics firm Roka Bioscience Inc (NASDAQ:ROKA) during trading on 7th October. The continued lack of confidence in the stock, led to the stock price plummeting to new 52 week lows. The firm had started trading on the browsers in July this year. Since then a host of analysts had weighed in on behalf of the drug maker. Bank of America had issued a “buy” rating where as Cowen and Company had advised a “outperform” rating on the stock. The price target had been pegged between $13.00 and $15.00 by the analyst community.
On Track Innovations Ltd (USA) (NASDAQ:OTIV) had filed shelf registration application in front of the Securities and Exchange Commission on 6th October. The firm had indicated that it was attempting to raise nearly $50 million from the market through the issuance of ordinary shares. The firm had indicated that it would use the proceeds as working capital and as seed money to pursue other strategic goals. The share price of the near field communication solutions provider has come under pressure since then. It was down 14.2 percent during yesterday’s trading.
