I hear that! I've lost so many times on promising small bios it's hard for me to imagine I'm actually going to do well with this one.
It would be good to have a washout but so far this just looks like an orderly exit of a lot of investors going to cash. IMO, the VIX is not high enough at 27ish to be a wholesale panic washout. It went over 40 back in the August selloff, and went to 80 back in 2008.
As I recall, there was lots of pumping last week of a Monday morning PR giving the 12 week update. I bet it sucked some in to a short term trade that has now failed.
for example Pomerantz did the same kind of suit against Questcor back in 2012 and Questcor had NO drugs in development, therefore they were no threat whatsoever to any "big pharma" profits.
If that were true, you would not see suit announcements from those same firms targeting companies totally unrelated to pharma. I think you'll find Pomerantz, for example, sues all kinds of companies unrelated to pharma.
It only works if they can scare up more real selling than they burned walking it down. Doesn't look to me like it's working all that well at this price level.
As of 12/31 the "Fails to Deliver" count (shares borrowed for shorting but the borrow has not happened yet) was only 1853 shares.
... and it seems to indicate any manipulative dumping done along the way down to induce panic and keep it plummeting was fairly quickly covered, or at least was covered by Jan 15, resulting in the flat short interest between 12/15 and 1/15.
Back that up one month to the Dec 15 report period and it's the same short interest (Dec 15 had a $8+ intraday high). After that day there were 4 more slightly up days and then the crash that bottomed at $3.31 on Jan 14 (within the latest report).
At about the midpoint of the crash the 12/31 report showed the shorts had covered 400K shares, but then re-shorted 400K shares by the Jan 15 report (day after $3.31 bottom).
So essentially the drop from $8 to $3.31 did not cause the shorts to go any less short than they were before the drop. I would have thought a large amount of short covering would have occurred on that day it hit $3.31 (at least a few hundred thousand shares at a minimum). The short position isn't huge compared to some bios but the shorts don't seem to be in a rush to get out even on a ~70% decline, perhaps due to the severe bear market in bios.
All I need to know is it was not pumped and dumped BY THE COMPANY. I could care less what manipulating hedge funds do to swing the stock. Of course if you can show me where Missling or the company under his control have dumped shares into stock runs I'm all ears. Well, can you? Show me the SEC filings.
If this company has an approvable treatment for AD, NOTHING will stop the stock price from going up to sky high levels eventually. The only question is the shape of the chart getting there.
That would not surprise me in the least. They NEVER gave up on QCOR even when earnings were growing. They kept fear mongering that insurance coverage was about to be terminated. It took a buyout to eventually blow the shorts out of the water.
IMO, at some point this stock becomes a cheap call option and funds will buy some even if they're waiting on more data before they take their "real" position. A billion dollar fund could buy several hundred of thousand shares of this and if it went to zero it's a nit to their performance, but if it ends up at $500 it makes a difference.
"I don't know how to tell my wife" posts from a new group of greedy fools who maxed out margin and are getting blown out of the water (funny how it's never "I don't know how to tell my husband". I guess men have a lock on being greedy fools). If this makes it down to the 3's again it almost certainly is happening all over again. I agree with the post someone made today saying they were tired of having so many "lemmings" in this stock. If more people knew what they owned and were reasonable about taking positions the shorts would not be able to blow the bottom out of this stock every other month.
Much worse than this was done to QCOR and the SEC never lifted a finger. As I recall, the only thing they did was issue a similar subpoena which caused a similar stock price decline and bashing onslaught. When the so called "regulators" at the SEC finish their stint they roll right back into firms like Goldman Sachs or big hedge funds that target vulnerable stocks for manipulation.
If he's sentenced to less than 10 years he'll end up in an "easy time" hotel-like federal prison (like the one in Pensacola). Even if it's a little longer than that, he still wont be put anywhere near the sodomites. You have to be violent or a trouble maker inside prison to get put in those hell holes.