Yep, the proverbial fly in the ointment, the market. A trip back to the bottom of the indexes recent trading range would make a substantial rally extremely difficult short term sans material news.
Word of their investment brings in more longs + makes some shorts nervous + add in some bullish technical buying/covering due to price action and......we shall see.
Which begs the question, what are the possibilities, if approved, the FDA may put restrictions/specific criteria on the types of injuries it may be used for, thereby limiting its market to some, if not, great degree? I've followed enough FDA in-wait stocks that nothing the FDA does surprises me any longer including non-approval of what appeared to be slam dunks.
Day to day, hour by hour, mikepizzotti. Assuming no late day heroics today looks like a daily RSI a shade below 30 before we even begin to think about any type of sustainable bottom.
Newsflash!!! Calling IR will do nothing either except for you becoming known to them as a pain in the butt, among other things.
with no earnings, no revenues, no approved products & unknown approved uses along with uncertain market metrics should be worth $500 million-$1 billion or more before anything certain is known, don't you? On another note, can anyone help me with what the term "market bubble" means? TIA
One heck of a last 1/2 for sure. RSI 40 saved, for today anyway. Felt like short covering to me. We shall see if it's something more soon.
News of 4th patient conversion only delayed more selling, er, "manipulation" as the rally to retake the 50 dma rally has fizzled rapidly. Now RSI 40 is in serious jeopardy increasing odds of a retest of Feb. lows previously stated in this thread. Just how markets work...
"Wouldn't it be nice if stocks could trade on their fundamentals without this kind of manipulation?"
So what exactly are the fundamentals for a company with no revenues, no earnings, and net assets under a buck? And at what price should a stock like that w/ 30 million shares be trading?