Stock taking a breather...volume slowed down. Should pick back up in about 45 minutes. But there are only so many shares to go around. Could get very interesting due to such a small market cap.
1st run always the largest, 2nd run smaller but significant. Once profits are made by daytraders, volume decreases and trading range consolidates. For this one, I believe a trading range of $7.50 to $8.50 will be the next leg up. Then wait for next catalyst/announcement.
Yes, these patterns generally hold for about three days.
We see it the same way although I think it falls just short of closing green. But it will rally hard with the shorts out of play.
Shorts controlled the first two hours and dropped this down to $5.80. They are now covering and some are taking long positions. This is shown by less volatility the past 45 minutes. The more likely scenario for rest of day is a push to just beyond $8 and then will close around $7.50. Once shorts are done, they will let this one rip...give it another hour or so.
Keep in mind that the market cap is only $32M and the recent news is extremely positive. In general, the biotech sector is getting hammered so institutions are looking for something positive.
This has an ACAD like feel to it and $20 is now more likely than $2.
Let me know if others see the same as me or perhaps something different happening.
Actually, I heard something similar on other stock boards. I do agree that Sierra is a waste of time and anyone who follows their advice is an idiot. I think they scour other boards and blogs so there is no original thought.
SWER is not legit. Would not get too excited about them.
The market basically sold off on the announcement. You did not mention the run up since July and that was based on an expected partnership announcement. So, a classic case of buy the rumor, sell the news. It's worth noting that INO does not trade like a speculative stock anymore, as evidenced by the recent tight daily trading ranges. It's becoming less of a trading stock and more like an investment.
Sure, it's been disappointing that the price has fallen back but, unlike other small biotechs we are not seeing wide swings. The model we want it to follow is ACAD--$2 a year ago and now trading at 12x. Review the pps for Acadia and ask if you think possible with Inovio...hmmm.
I do. If INO breaks out due to positive results, ONCS will ride the wave. Not expecting the pps to go to $2 but 50 or 60 cents would be an excellent start. Invest in the technology--both companies use it.
On August 2nd, INO closed above $2.00 for the first time in four years. The feeling at that time was that $3 was just weeks away with an anticipated partnership announcement and several opportunities for the company to impress at investor conferences in September.
Now, almost 3 months later, the stock is struggling to hold above $2. The Roche partnership was announced and Kim talked excitedly about Inovio' s future.
Do you feel that the stock is being manipulated or that investors are not overly thrilled with the company's potential for success? This has been a frustrating time for investors like me who expected more from the company at this point. Are others feeling the same ? What is the next likely catalyst?
Maybe...but not by much. INO seems to have lost it's swagger. I think the overall market pulls back once folks figure out that there is no impending deal to end the shutdown.
Once the shutdown ends, the true test will be whether there will be institutional interest. Isn't that the reason for Inovio' s recent participation in multiple investor conferences? So far, there really hasn't been the type of response that is reflected in the stock price. Time will tell...
All I care about is results...so far, so good. Think about how many smooth talking CEOs have not delivered. I am listening for his passion and commitment to shareholders. Certainly, the proof is in the pudding. The recent Roche deal is an example and I believe there will be more partnerships.
Interesting..I heard something similar about tomorrow and an announcement...although I still don't think it will be HIV results...it would explain, however, last Friday's volume.