Follow the money..........BL8040 - Back to $2.25 in less than two weeks
Hopefully people will get the picture and stop using stops for clinical stage biotech companies they choose to invest with.
please raise your hand. Now don't you feel silly?
Really, it's Greece & China, the shares added to the Russel micro cap fund are significant enough to raise and drop the share price.
Berk - Tell the truth, you were one of the lemmings selling at $3.09 today, weren't you.
Follow the money and you will actually make some. Going higher, buy now there is still .40 up side before they take it down.
Stay in long enough and in the near term $5.00 will be the price.
Even Ray Charles could have seen this move coming............Yes ducky, the 4th was good to us longs.
Yes, CRIS does have an ATM agreement, to sell shares to Cowen & Company as CRIS sees fit to secure money to progress with clinical trials
The good news is that they can be selling those shares to Cowen at $5.00 per share, if all keeps going as planned.
I wouldn't mind selling a few shares at $5.00 in the interim
ducky, you are talking out of your quacker. Even on June 26th when the Russell rebalancing took place they only shorted 247,000 shares. In the last 10 days less than a million shares have been shorted.
Additional you have to buy the shares before you can loan them out to investors for shorting.
Google FINRA SHO Reg daily short interest
We are going higher before we go lower, $3.90 without a major data release or PR
I actually like the timing, it mutes the panic affect of those that are clueless (ducky) Cowen will act as a market maker or broker dealer, which ever you prefer through their ECN, call letters are COWN
The initial effect Monday morning will be down, buy all you can since Cowen, I am sure bought the minimum that is not disclosed in the prospectus probably 1 million shares approximately 10% of the 30 mil offering which is pretty typical int he industry.
They (and others no doubt) after the initial sell off will help pump the share price up to the $3.70 - $3.90 range before they loan out their shares for shorting.
Company has great potential, Dr Reddy will want CRIS to ante up soon, a good PR can get us to $5.00 tomorrow, may be the reason why so much interest now.
Investors hedging, BLRX does not have options. They made as much money in 2 days shorting than us longs made in the last 2 months