AGREE - This is like the late 1990's. . .when a stock like EPWN (E-pawn) went from .50 to $40 then into BK. . . all within a year! I guess we have a new generation of traders. . .I bought at 2.50 and sold IPIX at 7. . .no regrets. . .had dinner last night at Trader Vics on my $7000 profit. . .and will put the rest in boring dividend stocks.
You longs have to be the biggest bunch of idiots I have ever seen. You have no idea what their product is and now it appears you have no idea who just bought the 2 million shares announced today. The 2 million shares bought today are not registered through the SEC and as such must be sold to foreign institutions. Those institutions are subject to a 30 day hold period on the stock provided IPIX agrees to register the securities for them. As part of the agreemenet, IPIX has already agreed to register those shares. This means that they will likely be sold by within 30 days.
These institutions are typically large European banks and money management groups. They do not like risk. They will likely begin shorting against the box tomorrow AM. They will then cover with their 2 million shares of 144 stock 30 days from now.
You will see 2 million shares of free trading stock coming to market within the next 48 hours. That is 40% more than the current float. Longs get ready to feel some pain.