Very impressive. Tells you all you need to know about the future this funding provides.
Shorts in a real pickle.
"How can I cover when longs are not selling.
News could hit anytime that could take stock much higher. Company is not going BK. My short thesis is wrong."
Lucky for us, there hasn't been that much selling. I think the people that are long RGRX now are "die-Hards"…. If we didn't sell out at the 4-5 cent range to harvest the tax losses….in a very big up year for the market, where all had big gains - that needed to be offset….then I guess those us left are "all or none". We should have been down today…I was prepared for some low, scare down, prints…..17 cents was all they got….but on the other hand, we don't have any real buyers either. Shame….because NITE and other MM's are surely VERY frustrated that with this announced 25% dilution, that RGRX isn't down much….and my hunch is that NITE and other MM's will hold to that it should be down…. and offer PLENTY of shares above 20 cents…short..to any buyer. NITE probably can't get whywe're not down. we just need a big buyer. But that kind of buyer needs more news than a diluting financing……only thing on the horizon is England…….If that every got approval….it would blindside NITE and other MM's totally.