This is bio tech, it all depends on the studies. If the results are good and FDA approved it hits $40, not $4. If results are not good, it goes down hard. Right now there's no pending news, so a good time for shorts to push it downward.
This increase is as expected because funds in the Russell 2000 & 3000 must own the stock now as part of the indices.
I agree, especially with 9 million shares trading yesterday. I was just waiting for a sign that a reversal was forming. Charts looks good from here up to $5+
Thanks for the thumbs down, I'm simply pointing out the facts:
The Russell index reconstitution is typically scheduled for after the market closing on the last Friday in June. The graphic below shows the 2014 reconstitution schedule with the final membership lists being published on June 30.
For those who think we are heading downward, you must not fully understand the significance of the stock being added to the Russell 2000 & Russell 3000. Funds are going to be forced to purchase this stock now!
I bet it doesn't get under $4.15 - let's see who's correct!
Someone just dumped about 32k shares, luckily there was a buyer at $4.60. That's nearly the number of shares I own, so I'm happy that trade didn't cause further erosion of the stock's price.
JD, you certainly pin-pointed Friday's lows, but I'm still attempting to figure how Tuesday fits into the equation? Thanks for any input, always trying to improve!