A current share to sell is Sigma Pharmaceutical.
Sigma Pharmaceuticals (SIP) is a leading manufacturer, distributor and marketer of prescription, over-the-counter and generic pharmaceutical products.
The repercussions from last month’s disappointing FY09 result has resulted in the resignation of Sigma Pharmaceuticals’ (SIP) CEO, Elmo de Alwis.
SIP reported a $389 annual loss, which was greater than expected and its impact on SIP’s share price was much more severe, with SIP plummeting almost 50% on the day of the announcement.
Although the CEO has resigned, there is much uncertainty as to who will replace him and the strategy the company needs to adopt to turn its fortunes around.
The Australian share price for SIP has rallied since 31 March. However, the second wave of selling is beginning to reflect in the weakening share price.
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