I hear you... this is the first time I have been uncomfortable in this stock, having been in it since it was in the fours. I would have expected them to have waited till there was more upward price pressure before doing the offering. They had plenty of cash for the immediate needs, unless they have results coming that would require more capital.
If that were the case I wouldn't have expected the stock to sell off to the $1.40 range prior to the news... This stock traded on the offering before the stock went public from the way I read the chart.
sorry, i thought it was 1 and 1...i guess i was so mad at the offering and price my eyes got foggy...stock looks better this morning, locked at 1.21 cdn buyside looks pretty solid but i don't expect too much in the next litle while unless the company is out doing a dog and pony show...my guess is that we will hang around here for a while until the excess float newly created is soaked up...i am buying in here, much more and i'll have to report..good luck to us all
i can't tell you what to do with your money...i'm in the stock in the hopes that nimo is a real drug...if it is...potentially we have a 50 dollar stock minimum...but that's a hell of a roll of the dice...that's my bet...you have to decide why you're in and if you can afford to lose the money because with biotechs that is always a possibility
I call it "being collared".. Saw this before many tiems on CIT stock and other bank stcosk and such being manipulated by the MM and ti should be illegal!!!
They hold it tight so friends can load up cheaply or offload at premium gains and then release it back to the general market for the retails to trade on..
that's funny...there are no more mkt makers..everything is electronic with immediate execution...believe me, i am a trader...all the orders in the book are real...the reason it's here is because those that got stock from the deal got a share and a warrant and until they sell their equity side there is no reason for the stock to go up...basically they will get a free warrant and a longer term call on the stock for basically nothing