Listed in Penny Stocks, Stock Picks, StockGuru.com, Day Trading, Best Stocks
CAMBRIDGE, MA–(Marketwire – May 13, 2011) – Molecular Insight Pharmaceuticals, Inc. (OTCQB: MIPIQ) (PINKSHEETS: MIPIQ), today announced that it has filed Form 15 with the Securities Exchange Commission (the “SEC”) to deregister its common stock and common stock purchase rights, which are attached to and traded with shares of the common stock, under the Securities Exchange Act of 1934, as amended, and to suspend its reporting obligations thereunder.
As previously announced, Molecular Insight filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The Company’s first amended plan of reorganization was approved by the Bankruptcy Court, under which the Company is required to cease all reporting obligations and become a private company and all of the Company’s currently outstanding shares will be cancelled. Following deregistration, the Company intends to communicate with the public through its website.
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.