Friday March 20, 2015: Phytotech Medical (PYL), the cannabis company whose shares soared on listing and plunged just as fast, is in a trading halt pending announcement of an acquisition.
Shareholders will have to wait until next week to learn whether the deal will puff new life into their flat-lining stock, which has range-traded between 30c and 35c in recent weeks.
It has been a relatively boring share market existence for Phytotech of late, particularly by the standards it set shortly after listing.
The stock soared to 92c and Ross Smith resigned as a director amid a tirade of foul-mouth outbursts which led to police intervention.
Smith's rantings didn't stop him collecting a swag of performance rights which can be converted into Phytotech shares at no cost.
The dust has since settled, along with the share price, and investors will be eager to know whether the acquisition will create genuine, sustainable value.
Shareholders will have to wait until next week to learn whether the deal will puff new life into their flat-lining stock, which has range-traded between 30c and 35c in recent weeks.
It has been a relatively boring share market existence for Phytotech of late, particularly by the standards it set shortly after listing.
The stock soared to 92c and Ross Smith resigned as a director amid a tirade of foul-mouth outbursts which led to police intervention.
Smith's rantings didn't stop him collecting a swag of performance rights which can be converted into Phytotech shares at no cost.
The dust has since settled, along with the share price, and investors will be eager to know whether the acquisition will create genuine, sustainable value.