Shares in money-losing Zivo soar after 3-day slump

Zivo Bioscience

24/09/2021 15:08

** Shares in Zivo Bioscience  ZIVO.O  up 87.4% at  $6.47 after
falling for 3 days in a row following a one-day spike higher on
Monday without any news announcements from the company 
    ** Zivo, which is developing bioactive compounds from algal
culture, targeting human and animal diseases such as poultry
coccidiosis, bovine mastitis, human cholesterol, and rheumatoid
arthritis, had risen as much as 182% to $7.90 on Monday and
closed that session up 66% at $4.66  urn:newsml:reuters.com:*:nL1N2QM12Q
    ** Trading volume on Friday was already at 41,799,979 making
it the third most actively traded stock on U.S. exchanges. In
comparison, ZIVO has just 9.28 mln shares outstanding, per
Refinitiv data
    ** ZIVO has about $2.2 million worth of shares sold short or
0.64 million shares representing 10.42% of its float and it has
a 27% stock borrow fee, according to S3 Partners
    ** A company representative did not immediately respond to a
request for comment on Friday and did not comment on Monday
    ** For the 3 months ended June 30, ZIVO reported https://ir.zivobioscience.com/income-statement
 a net loss of $1.8 mln or $0.28/share and $0 revenue

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))