really got upside down here with a sizeable amount of shares. i want to hold on. but, not sure where the bottom is. its feeling like the shorts own this thing. thinking about exiting yet my better sense is telling me to wait it out.
The message I read from the drop from last week spike to todays lows is very simple. Most longs here were waiting for the news of a partenership to get the hell out on a run up that started since last year and short selling also took advantage of it to sell more stocks than were already reported last month. There was no covering and perhaps warrants were also sold. The maim reason is no one knows ar this point in time how will revenues come this and next year because of the REMS factor that makes it very difficult to predict. some analysts and hedge funds are even taking ADASUVE as a commercial flod and were aware of this long before the run up to FDA approval last year. The played the run up to catch you and me.
And, we don't even know for sure if the stock is going down due to SHORTING. We can't know that until the next short report comes out at the end of the month!! I still think it's just one or two entities selling out their long positions (with a profit) and moving on to their next short-term game.
Sentiment: Strong Buy
Too much upside to get suckered into the drop. Follow the old adage that when blood is in the streets thats the time to buy. I made a huge mistake trading CALL several months back and sold during s similar situation to what's happening with ALXA at a price of $11.10. CALL then bottomed at $10.93 and is now trading in the $16's after being in the $18's. Needless to say I regreted making that mistake. Don't do what I did as you'll regret it. Just my 2 cents.