next tuesdays 9/25 lock up. Insiders spiking price higher and upgrades from firms involved with the offering, all trying in vain, with relatively little volume, to spike this so the pent up demand for selling doesn't crater this issue. Stock will be back at $7 come next week end. And will trail down to $5 again as more insiders sell due to the lock up expiration.
Think about it, why would this muscle 30% higher just before a lock-up? Absolutely amazing manipulation. But it is doable as buying only 127,000 shares moves the stock $1.50 higher?
Come on. It's one thing to be thinly traded, but the float is big enough that this should never happen.
Something is going on, plain and simple. It's not like they're going to cure cancer next week, next year or even in the next 5 years. Seriously.
Who knows what this is all about? I certainly don't and neither do you.
But 125,000 shares in the first thirty minutes is hardly 'light' volume for this or any other company of this size. It's a multiple of normal. Can't help but suspect that something is up(besides the price) and will be very interested to see what it is.
No, I'm not buying it. With the lock up expiring next Tuesday they'd have to be curing cancer TODAY for a 30% move. And they are not. There are 81 million shares floating. Volume of 150,000 making this move up 15% this morning? Ridiculous. Utter manipulation and it is all relating to the lock-up. If this stock doesn't get support, there are plenty of insiders, whose cost basis is under $1, who can't wait to turn their 500,000 shares into cash and get out of their VC position. Let the dust settle on this one and don't touch it until late October. Give the insiders a month.