OK, I'll explain why I shorted today. At $8.60 and 2.2Mil shares, that's sporting an $18 Mil market cap. Now look at the quarterly reports and it's losing about $2Mil a quarter and has only the $2.5 Mil in cash it just raised at over 50% dilution. So come the start of baseball season it will be gone and worth 00, my target price. Now this is the beginning of my second shorting trip with CBMX. The first was a 4-5 years ago at $12 (now $120 with the latest 1:10 reverse split) which I covered around $1 (10 with reverse split). Any questions?
Yes how many shares did you say you shorted today?
And the short position you took before was a great one, but then the company market cap wasnt 8,6Mill/us right?
Even if you were to short this one today, you are still playing with a company only worth 7Mill/Us atm.
Are you saying that your target is 1-3,00$ (or even lower) making this company worth only 3Mill in market cap, and in your calculation on your newly short position is there any consideration taken to a financing coming?
A financing that would give the company a more solid ground to start making market penetration on their CombiMatrix chromosomal microarray tests.
I dont know about you, but i would consider the upside better atm then the downside.
Lets hope they don't come out with new pre-market and get a gap up to $20, damn shorts going to lose a bundle here. I guess its easy to forget plays like ROSG after a reverse split, or other runners like BVSN, trying shorting posibly when we are up 1500-2000% I believe there is more to come, 25-50 very possible short term, its funny how nightmares linger even after you wake up. GL