This stock has not closed over $3.5 since Dec 2007
The earnings call was more negative with the decrease in revenue projection then positive, Something is driving this stock that is not obvious as of now but I hope will soon be. Any speculation backed by reasoning (please).
I stand corrected. I looked at monthly high/low/close and missed it. Should change to a close over 3.5 a very rare occurrence since Dec 2007. The question is will the stock break the 5 consecutive day streak last seen back then. I have no clue.... been in the stock since my first purchase at 6 many years ago. I thought back then it was a put under your pillow stock and forget about stock. I wasn't really thinking sleeping beauty time frame for putting under your pillow but it gave me opportunity (too many) to average down and I still believe I will be rewarded. we will see.... being or end of movement... we get to find out.
Money is cheap right now and if a drug company has the cash, it is feasible for them to want to spend it on a solid pipeline that has potential even if it is unproven, a company with no debt and a big portion of cash on had. Especially if you believe management is weak and you have nothing better to do with it.
Or the recent highs in the stock market may have someone looking at Astex using their newly appreciated stock value. Take a look at Celgene. Stock and market value has exploded this year. They maybe could buy Astex now that it appears that Dacogen will have a generic version. Might satisfy the FDA and Justice Dept if they were looking at anti trust in the MDS/AML market.
You know what; I believe that you may be right about the squeeze.
I have been here since 1999 and have watched this happen in the past.
This company has been and continues to be a trader’s toy for a very long time.
They very well could have been caught off footed.
As a long I do want to believe we at long last have found a proven product to two.