Short sellers porn !!!
My mistake, I guess Iggys here....giving me the thumbs down. Must be in too much of a fog to pump. Come on Iggy cheer up! It's rah rah rah, pump pump pump time!
Purposely selling at a loss? As in, they intended for this to happen? No, it's called cutting ones losses. It's the smart thing to do.
Sure, probably some are short sales but mostly just longs getting squeezed out. This price action is showing them no mercy.
I guess you're still long NVGN. Just be aware it's complete rubbish company. A disgrace to biotech.
That being say, I do actually agree that there could be a short squeeze by days end. Took a tiny position for fun today...trying to make a few bucks on it. Ride the manipulation.
I think you have the right idea to buy on dips, and to scale in. But at some point you need to throw in the towel, otherwise you end up in Iggy's shoes with a portfolio rapidly approaching $0.
It might seem counterintuitive, but stocks that fall and fall don't tend to get bought up. They are cheap for a reason. On the other hand, expensive biotech is expensive for a reason. Smart money knows which companies big pharma would really like to aquire and they bid those ones up into what seems like the stratosphere to most retail traders. Of course, there are exceptions, but the vast number of cheap biotechs are cheap because there's no real indication yet that they're doing breakthrough science.
Amen, hedger! Well said. But let me add one bit of advice. If you are buying to invest for the long term, do it with conviction. So, why would you be willing to invest at $4 but not $3? If I have strong conviction that a stock is worth $4, I'd much rather be buying it for $3.
$8? What happened to $30? Oh, well. It's all good. As long as we keeping buying bigger amounts than we bought at $10 and $8 and $6, we'll all be filthy rich.
IBB pullback to 50 day ema. Doesn't really look that "toppy" to me at the last 52 wk highs. So, I don't think it's over yet. But, ONVO is it's own beast now. Hasn't bee getting any love from sector buying programs for awhile.
Yeah they should've done it 2 years ago when stock was $10.
But, in my view company is still way overvalued. Should be a $50-100M market cap.