I decided to buy some shares of a pharmaceutical stock (SEEL) since I saw it was trading at around a dollar and had a couple of medications in phase 2 and 3. I figured if they actually hit a med for approval, the stock would jump significantly and why not. Several weeks ago, I saw the stock start to creep up and debated selling, figured I would if I got to double to triple my investment. Basically literally as I did, the stock suddenly plummeted to a garbage penny stock and I saw some announcement about them adding millions of shares or something like that. (That part I am annoyed about but at least can understand that creating new shares could devalue current shares.) At that point, I figured I'd sit on it since it was nearly worthless anyway but now I see an update that their stock is now being re-valued at over $2 again. Okay, cool, except my stock value remains pennies despite the new value on the market. What's worse is now it's down to a dollar again and my few dollars remaining is cut in half again and nearly completely zeroed. WTF is happening and how is any of this above board??
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