Why the hell would a 71 year old own a small-cap speculative biotech? Look for an exit point, sell your shares and buy general mills, roll the divs and go somewhere warm drink, read, flirt, learn, love and live.
best guess..capitulation yesterday likely looking at the volume. tick up at the close yesterday was supportive. Today good volume and spike seems to confirm. I'd give it a little bit to see if it will hold. If you don't need the money for the next couple years I wouldn't get too emotional about it either way. Until we get sales going we'll have volatility and if the drug sells then we will see a nice slope up for a long while. I am betting on the upslope. Look at how many doctors and general professionals in the field support this stock. I'm not one of them but I find the company of them here supportive and I am comfortable with the valuation which I do know about. JMHO
I'm 69, holding 7000 shares since $2.10. I can afford to lose the initial $15,000, have held through all the #$%$ that I've seen and more, and will hold until the cows come home.
For all you smart people, let the process take its course. No one knows exactly how this drug will sell. But one thing is for sure, it has a lot going for it, and the blockbuster potential is extraordinary, if not the opportunity of a lifetime for the small investors. New chemistry, as drugs go a good safety profile, many patents, multiple potential uses and with new potential drugs in the pipeline, a good partner with other partnerships likely to be decided (if not an outright buyout at some point), FDA approval with possible EU approval.
Could be the 'perfect storm' for an investment dream of the lifetime. As they say in lotto and gambling, 'you can't win if you don't play'. My only regret is that I did not move these shares over to my Roth IRA early on.
Not sure myself , maybe a mini bear raid to get some people to sell before DEA anouncment I would suggest holding I really think the bottom is 7. You could sell after the DEA pop if you need to get out but if you can hold out until 4q sales you have a chance to make a good amount of cash.
My personal Opinion take with a grain of salt