Doubt it. Any major shareholder has to register his shares before he can sell any part of them. Just because he registers them doesn’t mean a sale is imminent. If you were in that position would you register them just a few days before your intended sale knowing that it would put downward pressure on the shares ahead of your sale? No, you wouldn’t. You would register the shares well in advance of any planned sale. On the other hand you might chose to register you shares at a time when the stock price was weak if you wanted to buy more shares at depressed prices. These guys aren't stupid.
jtbazz...exactly what I'm talking about...negative price action feeds negative speculation. Just like positive price action feeds positive speculation. don't think this sell off is driven by fundamentals or trial data...just typical manipulation. Watch many of these companies have seen it over and over.
I am holding on as I am long but somebody knows something or this wouldn't be in a free fall. Seeking Alpha's article wouldn't drive a decline like this.
selling begets more selling...no one knows what's going on. at this point it's a good time to start accumulating shares. once it pops there will be a lot of short covering. seeking alpha article was #$%$. they like to drive it down one day and spike the next. traders are staying away because the downtrend. once it rallies a bit they will all jump on.
that was not a Buy order it was a sell order filled by a broker. The broker's been selling stock and finally sold enough to fill someones Sell order. That's why the price has been going down. Still not a bad sign but definitely not a purchase.
I don't know what the cause is, but it definitely is worse than I thought. I also think there is manipulation going on, all those July 7 puts that were bought. I keep waiting for a bounce.
I am long but it may be time to get out. A stock doesn't lose more than half its value when on the verge of phase 3 results. Any idea why this is falling so fast daily?