Wild swings in recent months. I need some cash out of here for taxes, but don't want to sell at our 90 day low. This drop from 19.50 to 15.50 has been harsh for me. Have no more funds to add although I would if I could.
This was exactly the intent of the downdraft - wash out folks on margin or needing to raise cash. It also was all about killing off any momentum, creating a "falling knife" that kept potential buyers on the sidelines - including retail and money managers who will wait until a trend reversal.
Aren't we just moving with the tide lately? If you look at our chart over the past year or two we have moved similarly to the NBI but with more variance. That make sense to me since in an upward biotech trend companies without revenue have future promise pushing them up, while in downward trends companies without revenue have higher risk pulling them down.
I'm not convinced this is coordinated price manipulation.
Absolutely. The usual suspects are using the biotech sell-off to drop the share price - dropping it as much as the biotech sector in general on the down days, but noticeably leaving it almost unchanged on the few days when the biotech sector has partly recovered.
But INSM at this point in time is a long way from being an average biotech investment. Hence the special treatment.