Drop from 14.00 to 12.50 and a little recovery. Despite the reverse split which I was strongly against, the percentage of the company that we all hold no different than before the split. The company has 2 drugs and both are in advance stages and low risk. There is nothing to worry about.
Sentiment: Strong Buy
To be honest with you that was the product that I thought had the most potential. The spinal cord stuff are highly doubtful.
there are two scenarios for raising more money and none are good for the current shareholders: 1) they truly believe in the drug and they declare BK and fund the research privately 2) they are collecting a good salary, so testing a useless drug so they do a reverse split and go to the loan sharks who short the stock and cover upon dilution.
Great job guys, all I saw was red today, where were these institutions that were supposed to buy your stock today?
The institutions are lined up to buy the shares now that there is a reversed split, because they know it will be in the price range that they normally would consider buying a stock. My foot!!!
I was talking to a CFO of a reputable company about this. If you loan out your shares to be shorted, then you forgo your right to vote, because you no longer have the shares in your account. This way there are never more votes than the number of shares. Perhaps your shares were loaned out to be shorted by your broker. Did you sign a margin agreement with your broker for your account?
All of the shorts will have a field day on that...I think powerwasher/poorerwasher is salivating...
To me it feels like I am in prison with a big hunky cell mate that is about to get his way with me.
Don't vote yes...
You don't understand companies that do reverse split are an embarrassment to the market. It is shameful to own a stock that does a reverse split. It is utterly irresponsible for the management to even propose one.