Underwriters making good money of the sheeple today
Underwriters exercised their full option today to purchase 400k shares at $42.50. Looks like they will get rid of 3/4 of that by close in the $45's and $46's so they made some good money here.
Once they are done making money and manipulating the price, this thing is in for a world of hurt. Sorry, but I dont know of any stock that goes up on air and permanently stays there. This thing is a $1.5B m cap now if you include dilution.
Given the overpriced nature, the CEO's history of liquidating/bankrupting companies, plus the lack of any revenue or approved drug for market, this thing is going down down down. Maybe not today or tomorrow, but soon.