Imagine if you will a great CC on Monday before the market when shares are scarce anyway and the order imbalances at that time before the market. Maybe that is why Jack wanted to have the call before the market, so that the overwhelming number of buys would crush those betting against Arena, if the ask is pushed up by dollars in pre market that would carry over in to the normal trading session as an opening bid - ask. These are the circumstances before us.
Jack's not so savvy IMO. I bet after the CC of nothing but reporting earnings we are all saying what was that for then? false hope AGAIN. He needs to hire some new advisors or something because he needs to consider shareholders in what he does, or more importantly, DOESNT do