Anybody sufficiently gullible to be suckered by the "INSM is simply following the market" explanation might learn something from the last four closing prices -
Regardless of how we got where we are, we are not unique. Look at the percentage drop from 52wk high to current price all these other development stage biotechs have experienced.
B-Leaguered would you mind (please) to update this list to include today's action? I think too many here think INSM is getting slaughtered due to bad news. It was a week ago when we were all impressed by the Needham presentation. What changed in 7 days that others know about? Not likely
Nobody's disputing your point. But I don't see GILD or BIIB on that list.
We're asked to believe that "other" investors have been selling like crazy all of the biotechs in their portfolios which aren't yet earning revenue - because "other" investors are too stupid to appreciate the difference between all of the biotechs out there which aren't earning revenue and a biotech which is all but guaranteed to have a substantial revenue stream within twelve months or so - and is therefore virtually guaranteed to be worth at least five times the price for which these "other"investors are selling their shares today.
I personally believe that these "other" investors are an urban legend.
Thank you. The underlying issue is WHY are all these stocks being driven so hard down? Who controls this? OVERSOLD is screaming at us and has been but they keep pushing these down. Where are the "analysts" during this? They did not downgrade or reiterate a $ change. There is so much RED on my screen that it looks more like blood-letting.
The MM's will let it rise only so much. The downward pressure is quite unbelievable. We should be up today back in the $14's. As soon as the NASDAQ peels back watch the PPS drive down again. This has been the trend EVERY day the past week or more.
Who can say? The guys managing multi-million dollar funds didn't get where they are without being good at seeing how to make the optimum profit from a situation.
It has suited them to bide their time. And with no significant buying pressure it's easy for the manipulators to walk the price down.
But my gut feeling is that it's only a matter of time before a big buyer is the first to blink. When that happens I'm not expecting anybody to be selling significant numbers of shares for less than $20 - unless they are expecting to buy them back via a low-priced offering.