is what I think is going on here...expect a total of 5.5 million shares to be sold at or near $1.60. I think between yesterday and today about 2.5 million have already been put into the market. The investor will then hold onto the warrants for about 2.8 million shares at $2.04, and can cash in any time within the next 5 years.
I hope you are wrong with your suspicion .I held INO and sold to purchase ECTY with the funds, last
IWednesday, and am experiencing a loss like so many others. After my purchase, I saw the name of Marx and Greenhouse in one of the posts, I believe it stated that they are large holders of this stock. If that is so, along with your post and my experience with INO,, I'm afraid I might have exchanged one bad situation with another.
Marx purchased several million shares of INO,with the pot sweetened with several million options, at approximately 1.30 per shr. He immediately started to sell his shares by robotic computer over a period of two years, bringing the PPS from approximately 1.30 down to 0.49., now selling around 0.65. Upon selling his shares, he of course held onto his options. What puzzled me and other investors was that he was selling far below his cost. Our only conclusion is that he was deliberately creating a loss for tax purposes.
Your post arouses my anxiety, making me wish that I was more careful with my DD and dampens my optimism. I'm afraid you suspicion may be well founded. If it does materialize, let's hope that he doesn't prolong his manipulation and is not seeking a tax loss.
insane! They could single handedly cause this stock to drop very quickly. How far though I don't know. I just took a look at INO. After all of the Marxe selling, the stock seems to be fairing quite well. I will be curious to see how this stock reacts, but looking down the road will we start to rise out of the ashes as INO appears to be doing? My short term sentiment is be very cautious at this point only because of Marxe!, but still long term strong buy. Thanks for sharing aj!