I think he was correct in his predictions. He said the stock would close below 65 cents on Monday, and it did. He really didn't talk about "closing prices" for any other days. He said it would trade at under 60 cents by Friday, which it did, but he really didn't say it would "close" under 60 cents on Friday. That's my take on it, but really, why make a big deal out of it? After all, it's only one investor's opinion.
Thanks Silver. I never meant it to be some sort of grand feat of prediction. Just shared my thoughts on a similar trading pattern I've noticed on this stock after days it has popped under 10% on the day. What I can't figure out is why people get so offended/angry when someone gives an opinion that is not to their liking. I can't quite figure out what the benefit is of wanting to have an opposite viewpoint tuned out. Even then, I'll be happy to give credit to the company and the management once credit is due. No credit was due for the initiation of coverage by a company that was paid handsomely in recent investment banking transactions. If the management secures a partnership deal and finishes the trials on time and under budget, the share price will take care of itself.
My prediction for next week: Will trade range bound between $.58-$.65 unless management announces that the phase I trial has completed with no adverse events detected. The likelihood that such an announcement will be made is very low seeing as the trial most likely was not filled at the time of the last conference call on May 11th. The earliest such an announcement can be expected is at the end of June. Just my opinion.