So the FDA told them not to run another p3 trial because they were in on the scam?
Tell me more.
They've already got it in place. They can dump 10m shares whenever they want.
My guess is they are waiting for a pop in both the biotech sector, and maybe some company specific news event to make the sale.
I have no idea how this will turn out. But remember the stock is almost entirely institutionally owned. So the stock price can literally be placed anywhere they want it. If you've traded biotech for awhile you know what I've just said is true. Until the fundamentals start driving this stock, it's a playground for wall street criminal activity.
Have you watched "the big short"? If you did, you will recall that the member firms maintained the pricing of short side contracts even as their value skyrocketed. Why? They did it because it was in their best interest to do so. So when you see a stock like ACAD, you have to ask yourself why they would want to keep the stock price so depressed, and then take a look at all those short shares. And you have your answer.
It's not about supply and demand. It's about who is long, who is short, and whether it benefits the member firms to move the stock price up or down.
Recognize what you are playing with here, and accept the fact that you are a grain of sand with absolutely no say in the outcome. In fact I would almost go as far to say that the news will have little impact on the stock price one way or the other. They will move the stock when they are ready to let it move. And if they want to use Tuesday's results as an excuse they will. But they don't have to.
I was never really thrilled with her anyway. But it is a negative in that it creates uncertainty. The good news is biotech is so over-sold that nothing can hurt CFRX down here.
Yes excellent comparison. And the reason? Both stocks were completely controlled by institutional ownership. This means the stock can be placed, price-wise, anywhere the member firms want to place it. Supply and demand of outside buyers and sellers are meaningless.
The MM's pull this all the time with biotech stocks. It's not a tell though, in either direction so at the end of the day you either hold or you don't. But stock price has NOTHING to do with odds. It's just gamesmanship by the member firms. And you're right they do use price as a weapon to get people in or out of a stock.
It is odd we have traded this low. Although the market, especially biotech, is poison. So frankly I am not really very hopeful for a large move. I had expected one this year on good news, before the biotech bloodbath, but now I wonder.
Unless the sector turns around in a significant way in the next couple of weeks I think we're in for a long grinding upward move on good news. And ultimately probably several quarters of sales figures before the price gets where we want it to go.
Hopefully I am completely wrong about all of this and ACAD skyrockets higher. Just doesn't feel possible in this environment.