I can see why it's tough to believe in XOMA. I am not sure about it either. But I'm looking at the glass as 'Half Full'. I think there is potential here (not really exactly sure why ...). I think that long-timers may have been burned so bad that they will miss out on coming events. I've been there before with other stocks. It's tough to shift gears. I can see XOMA going either way - but upside has too much real chance to be ignored IMO. TGC.
Historically, that is true. But, new chapters are being written in the story that is XOMA. The boat is just beginning to sail. Once it gets over $5 then many mutual funds will be able to purchase shares, but with the small float (yes, due to the reverse split), the demand will just push the share price higher - IMHO.