Failing biotech company mentions pot business, stock soars 70% [MarketWatch]
AKERS BIOSCIENCES INC COMMON S (AKER)
US:NASDAQ Investor Relations:
akersbio.com/investor-center
Company Research
Source: MarketWatch
Failing biotech company mentions pot business, stock soars 70% Failing biotech company Akers Biosciences Inc. AKER, +40.65% stock soared 70% Monday following the company's announcement that it was looking into "business combinations" in the cannabis sector after a trip to a pot conference in Las Vegas last week. Akers offered no details about how it planned to enter the marijuana business. The company has been sued by shareholders in the past for publishing false and misleading information, downplaying weaknesses in its financial reporting standards and improperly recognizing revenue in 2017. Akers said in May that it was delaying its first-quarter accounts to the Securities and Exchange Commission while it reviewed them, and investigated whether previous reports would need to be amended. The SEC has previously issued warnings about potential scams in the marijuana industry and other companies have issued similar announcements, prompting large stock moves even though no business or
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