We are going to pop over a 100 percent in pre-market on Friday. Cheers.
Or you can ride the trend into Friday. Probably hit $6.25 by Thursday evening. Cheers. Glta.
An option to buy one share a year out at a strike price of .70 has a current value of around .30.
That means the share price paid in the recent public offering is .70 - .30 = .40 per share.
Not a bad deal for these favored investors. That is why the stock price is falling today.
They will have to cover those shares at an average of 3.00 per share higher tomorrow. 3 x 8.5 million = $25.5 million additional losses.
I don't think they are going to feel much of anything. Shock and anger will numb them.
We have seen this movie before. 35s are right around the corner, with a chance of a buyout at any moment. Buyout could easily be 65-85. You will kick yourself if you are on the sidelines when that happens. Cheers.
Glta. Start accumulating.
Shorts will be covering and speculators will nibble in with the expectation that management will reveal a silver lining to the current situation.
I think the people on margin have been selling the last couple of days. I think today marks the end of the bleed. Volume was 18 million two days ago, yesterday it was 6 million and today will be less. The bulk of the selling is done in my opinion. We get a nice bounce tomorrow and when the management letter is written and sent to FDA we get a good pop. JMHO.
Good play. I think margin players have already sold out or repositioned themselves. The bulk of the sell off has got to be done. Now we should drift up a little over the next few days and then get a nice pop when management announces they know why the patients passed and have rectified the problem and have sent a letter the FDA requesting resumption of trial. JMHO
The letter will clearly show why the recent patients passed and the FDA will review the letter and resume trial within a month.
I suspect on the announcement that the letter is written and submitted to the FDA the stock price will bang up to 33-35. A month later when FDA resumes trial we will hit 42-45. JMHO.
Now is the time to start nibbling.
We have dropped about 70 percent. That seems huge, especially when all the facts are not in. Management seems to think there is still light at the end of the tunnel. They look forward to a second analysis in Q4, also by that time they may discover a subgroup that is responding extremely well.
I hold out hope because Phase I and Phase II seemed to provide stellar results. Was that a fluke like AF is saying. Hmm...I don't think so. At any rate the stock has collapsed hard. Shorts at some point are going to want to cement in their profits. That means they need to buy and cover their short positions. When they do the stock will pop a bit. I suspect we could hit .90-1.05 fairly easy without any new information. JMHO.
When you see a dip is when you should buy. Don't worry about getting the absolute low. Buy the dips and sell in the 40s if you are a swing trader. Jmho.
According to stockta:
Type Value Conf.
resist. 41.55 2
resist. 39.88 2
resist. 33.99 9
supp . 32.23 4
supp . 29.14 3
supp. 27.18 5
supp. 24.52 2