Since October 17th (the first day of trading after the capital raise where approximately 6-7 million more shares were added to the float), ADXS has traded 6.7 million shares at prices between $3.50 and $4.00.
So who's selling all these shares? It does not appear to be the long-term holders that were essentially holding the orginal 6 million shares for years, so it appears it has to be the institutions that are selling the 6 million new shares that they recently bought in the offerring. Are they selling because they only wanted the warrants? Just seems odd to see the volume we've seen (6.7 million since Oct 17th.)
When will the selling stop? I really have no idea, but I'd like to think the supply of shares available for sale between $3.50 and $4.00 is winding down, as we've just turned over 6.7 million shares since October 17th. I don't see the 6.7 million buyers of those shares selling until they see some pps appreciation from here.
IMO, the selling pressure will continue to be reduced day-by-day as we move forward. Buying pressure will hopefully increase.... if we get Breakthrough status and/or get the FushionVax deal inked before the end of the year.