Smoking Securities

Half Baked High Finance

Twitter Ticker ($MTXX)

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MTXX090616At 11:16 am, Matrixx Initiatives became the focus of StockTwits chatter. Trading was halted at 8.56 by 11:34, only to reopen at 6.30 over two hours later.

The maker of Zicam nasal spray fell 70% intraday as the FDA revealed a rather unpleasant side effect, permanent olfactory damage. The Zicam products in question account for 40% of net revenue, and the brand is forever tarnished. Sales are finished.

MTXX has about $4 per share in cash, but that’ll go towards the inevitable class action lawsuit. This company is dead.

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Written by chucklesamadeus

June 16, 2009 at 1:09 pm

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