When the trading doesn`t make sense it usually spells an opportunity. We had a bullish 6-2 FDA Panel vote which means FDA will approve. We are one step closer to marketing in a billion dollar industry. Yet here we trade at $ 100 million where trading today attracted $ 30 million in new funds and we barely move 10% when consensus was for a miss.
So what can be causing this order imbalance where there seems to be an unlimited supply of shares for sale.
a) MM want the $ 2.50 June calls to expire worthless it means millions in their pockets.
b) HFT keeping price low so 9 million shorts could get out
c) ETRM using $ 25 million ATM to raise funds
d) MM keeping price down so all large institutions and friends can load up.
Make no mistake, we are going up. It is a DELAYED rally. It happens to smaller stocks where price is lower and open to more manipulation. If we were in a $ 30 stock then it would not have happened.
Those who are long, keep your shares as we march towards $ 5 within a few weeks. There was nothing negative from yesterdays FDA Panel.
I am curious to know why CC was cancelled and why ETRM is not trumpeting the good news like other companies do. Must be BUYOUT....who knows maybe oozhee22 works for medtronic.
So why didn't you present this as a possible outcome yesterday, Ade? Personally, I find the rationalization between shorts and longs equally infuriating. Neither of the sides ever admit they know nothing about how the market would react. Instead they both project insane numbers. For example, you have been throwing out insane numbers yourself, while shorts have remain moronic with their estimates.
DSCO was another company with stupid management. They got their product approved after 10 years of trying and they still managed to f it up.
I'm holding my shares but regardless of how anyone wants to cut this (buyout included), this has been a grossly disappointing day. And I actually have no confidence to add more. That conference call should have happened this morning. Unbelievable!!