Makes sense then why so many big names are still holding. I'm sure they quietly told their friends to load up this week. 90 million shares in six sessions.
What is going on?
Did Icahn believe a buyout was coming when he bought last year?
I've put in a limit order in of 15k shares at $1.20, so we'll see. I'm willing to take a chance and wait to see what happens.
No on makes two back-to-back Public Offerings without having some news in the works. If good news doesn't come out tomorrow or Friday, prepare for CLRX to trade in the $1.20s again. I do believe something good will soon be announced, but probably not for another week or two since MMs may want the cheap shares before burning shorts.
Looks like everyone was looking for some Pre-Market news by the way BIOC opened at $1.66, and drifted lower throughout the day as nothing was announced....yet.
Companies typically announce good news prior to making an additional stock offering. Why would anyone buy otherwise? Maybe the good news is coming next week.
Institutions own 80% of the Float. If they want, they could bait retail Shorts and then let this run to $20+