Yes - today is again a continuation of the same type of trading that is very pronounced in the 5 day chart: tight trading range, significant activity at beginning and end of day, and closing at or near the daily high.
Today's contrast against the broad market performance highlights that this is CRIS-specific buying. If the trend continues, we'll see a leading '5' in the PPS at some point tomorrow.
Not that it explains why we are moving up but it could explain some of the weird trading. I think the company might be selling shares under the ATM financing that is in place allowing them to raise something like $20 million. I believe they may have sold about 2 million up through June 6 from March 31. The reason I think this is because the most recent corporate presentation shows fully diluted shares outstanding of 91.8 million on slide 35. In prior presentations that number was a little over 89 million shares.
I know there are trading rules for insiders and companies and I think there is some rule about not being able to trade during the first or last half hour of trading, please correct me if I am mistaken about this. If I am correct and the company is selling right now and we are still moving higher that could be signs of a very good thing IMO that we have the strength to absorb more shares on the market.
Now I could be totally wrong and the increase in the fully diluted number of shares has nothing at all to do with the ATM financing. I guess we will find out if they issued additional shares when they file their 10q in a month and a half. GLTA and I know I am not the only one that likes the daily increases, even if it is only pennies/share/day it is still good.