GNTA - Genta Incorporated

[FreshlyBlended]

If your not a day trader my advice is stay away from this stock. I made some great money off this stock trading but never held for more than 1 day.

It has nothing to do with the companies pipeline. I actually think the company's pipeline is really good. See below



The bad part is the company approved a 50-1 reverse split. They have 5 Billion shares authorized and after this split they will STILL have 5 Billion shares authorized. So common shareholders are really getting screwed. Truth is GNTA gave away more stock than they actually owned! GNTA needed a reverse split to get more shares to give to a creditor to avoid default. This is not what a shareholder friendly company would do.

95-99% of the time when you see a reverse split the share price plummets. I don't think GNTA is any different. So if you have not got out yet before the R/S happens you might want to reevaluate your investment in GNTA.

I will probably wait till the days before FDA decision date to look at GNTA but I might reevaluate GNTA after the R/S

Recently Genta announced a delay of the R/S "due to administrative matters", very odd.
06/29/2009 - Genta Incorporated Announces Delay in Implementation of Reverse Common Stock Split

[barkmandog]

but I own this stock and I am down about 60%. I don't have a lot of money invested so I am just going to hold on and see what happens.

[FreshlyBlended]

I hear this all too often. One of my good friends said the exact same thing to me when he was up 100% in GNTA. So he didnt sell and now he is down a lot in GNTA. But hey he didnt have a lot of money invested in this

You may not have a lot invested but it is still money and you can still lose the little you have left in this.

I think this is a good thing to write about more and I will probably create a seperate post later about trader mentality and picking a good exit strategy.

[barkmandog]

I bought ctic, gnta, zvtk and stzu all at the same time. They were all speculative plays for me. You all know what ctic and gnta are all about, zvtk makes an ionic light bulb that purifies the air while in use. If it ever actually catches on it could be a big winner. Stzu makes non alcoholic mixers (probably to much competition) but it could possibly make it. I am up so much on ctic that the other 3 don't matter. I hear what you are saying it is still money and I should have an exit point. This is the first time I have ever bought a penny stock and I am kinda liking it. The risk is nominal and the reward is tremendous as I have found out with ctic.

[FreshlyBlended]

Yea sometimes it only takes one huge winner like CTIC to make it all worthwile

[dan4202]

After the split why would there still be 5 biilion shares? I'm lost

[FreshlyBlended]

After the split why would there still be 5 biilion shares? I'm lost

If you read through the SEC fillings you will see what I am talking about. This is not your normal reverse split. Shareholders are getting EXTRA screwed on this RS

The proposed R/S would not include all shares (both outstanding and authorized). They will only R/S the outstanding shares, so in the end they still have 5 Billion authorized. I am sorry they have 6 Billion authorized I was wrong

The reverse stock split would affect all issued and outstanding shares of Common Stock and outstanding rights to acquire Common Stock. We will not change the number of shares of Common Stock currently authorized. However, upon the effectiveness of the reverse stock split, the number of authorized shares of Common Stock that are not issued or outstanding would increase due to the reduction in the number of shares of Common Stock issued and outstanding as a result of the reverse stock split. As of April 1, 2009, we had (i) 6,000,000,000 shares of authorized Common Stock, of which 1,014,111,706 shares of Common Stock were issued and outstanding

Unless this R/S does not happen for some crazy reason I would say dont touch this company with a ten foot pole (unless day trading)

[dan4202]

thanks, fairly new to stock market, picked GNTA and CTIC to learn from. CTIC seems rather crazy to learn from. my average price for GNTA is .0106. would you think I should get out of GNTA and suffer minimal losses or just sit back and wait it out?

[scramrom]

I was at one time interested in this stock but just couldnt get enought information to take the plunge. Reading all the MB just didnt sell me on it not did the website. I dont know though I may put a little something in it and then do some daytrading with it. I guess I have a little more DD to do

[marceling]

Does anyone have an idea on what stage Genta's drugs are in?