According to nutritionists and the medical profession, nothing packs a punch like the blueberry. The little blue package ranks the highest of any fruit for free radical-fighting antioxidants and it is loaded with vitamin C. Native Americans even used the blueberry as a cough remedy. Yesterday afternoon, ChromaDex (OTC:CDXC) released the Phase 2/3 findings for its nutritional ingredient, pTeroPure, derived from a chemical known as pterostilbene that is found in blueberries. A spokesperson from the University of Mississippi School of Pharmacy reported that patients receiving high doses of the chemical saw an overall reduction in their blood pressure.
Perhaps traders were either digesting the recent gains in the stock or their breakfast as shares of ChromaDex opened the morning just a penny above yesterday’s closing price of $0.95. The initial transaction of the trading session also marked the high for the day. Any enthusiasm buyers showed for the stock quickly died on the vine. Share prices hit bottom for the day when they traded for $0.85 with less than an hour to go in the trading week. The stock ended the day with a loss of 6% to close down 6 cents at $0.89. The number of shares exchanging hands during the session fell just shy of the 650,000 traded on an average day.
Over the last 12 months, the stock has bounced around like a four-year-old snacking on a fruity-tasting, sugary candy. In January, share prices climbed 150% to $1.20 and the company signed a letter of intent with Glanbia Nutritionals for the distribution of pTeroPure in North America. By mid-May, the stock had stair-stepped to a new 52-week low when shares traded at $0.44. Just four days ago, the stock hit a fresh annual high of $1.25. Traders will have the weekend to decide whether the recent pull back in the stock is just a pause that refreshes, or if it marks the beginning of a significant correction.
Other recent news for Chromadex includes:
- This afternoon, Seeking Alpha explained why the stock has pulled back recently in light of the positive news about pTeroPure. The story also highlighted what separates ChromaDex from other penny stocks.
- On September 19, 2012, an article on Business Insider talked about the potential that awaits investors in ChromaDex shares.
- The company will present at the Red Chip Fall Small Cap Conference held in San Francisco on October 11, 2012.
Recent stock promotion activity for ChromaDex includes one from Red Chip Companies today containing the following quote: “With high blood pressure affecting more than 76 million adults in the U.S., we are thrilled that these findings show pTeroPure to be effective at reducing blood pressure,” said Frank Jaksch Jr., CEO and co-founder of ChromaDex. Red Chip Companies did not list receiving any compensation for its story. A total of 39 promotions can be viewed on Stockpromoters.com.
The Boulder, Colorado, company focuses on products and services related to dietary supplements and food ingredients. In late 2011, ChromaDex launched its BluScience line of dietary supplement products that includes the ingredient pTeroPure. The company was founded in 1999.