My opinion may be bias as I am long but I am convinced at this point that these large block trades r swapping out of short positions to cover and or go long. Too risky to be short or caught with no holdings if announcement comes early.
Missed one....another at bell big block of 187,585 @ $5.05 ..... So another $2.458 mil within a fraction of a second ......more short covering I wonder or just some big bets going into conference on Wed. I have a hunch so I bet a bunch before the spike ..... Didn't get the remaining 1/3 order fill on Thurs @ $5 even after disputing it with brokerage which on top of the almost million shares at bell and after hours on Thursday and the long tight consolidation over last several days I doubled up position today. The risk reward ratio on this puppy is just to good to hold off any longer with what I believe could be an early Xmas present to all mannkind shareholders and diabetics alike. Glta
Trading has been very strange lately. I can't imagine many small cap speculative stocks trade in such a tight range only up or down 5 cents for so many days in a row. Like many others, I ponder what forces are at play.
I know it's not a Bio stock but a stock that traded this was recently was KWK. That dang stock sat between 1.60-1.69 for over 30 days. Then an article came out about a big fund was ending their short position. Stock is now testing 3 bucks. Plus that stock has major catalyst in play still. So just from that I would imagine this will slowly but surely break out prior to the news. Maybe not 10 but slowly to8 in the next 90 days. Just my two cents. Later