Anybody short who buys to cover on this t u r d today is a freakin' idiot, especially given the lack of any conference call. There is one direction this is very likely to go -- and it's down.
You are assuming that it was institutions who bought the latest offering to begin with. Given that this was a public offering you have no basis upon which to make such an assumption.
This is not 'going forward', it just took place. This is why the price didn't fall below the offering price until the offering closed. If the stock busts the offering price the underwriters actually have skin in the game, as it was they could short the stock all day long at 3.80 knowing the offering was at 2.75.
No risk, free money. Which is why Oppenheimer has no problem giving CYTR a 10 dollar price target. If CYTR never hits that target -- Oh well -- and in the meantime there's free money on the table.
'shorts desperately trying to buyback to cover'
Which is, no doubt, why the price is going down -- 'cause the price of a stock always drops when people are 'desperately' trying to buy it.
I eagerly await your next steaming load of tripe.
Yeah, go ahead and load up this message board with nothing but your spam. Your doing that speaks louder than I ever could. You're going to attract a whole pantload of new bag holders with a message board full of nothing but messages from you that say 'Bump'.
Stop it. This is the payoff for CYTR continually burying their current shareholders with stock offerings at a twenty percent discount to the current stock price. CYTR is a t u r d. CYTR has always been a t u r d, CYTR will always be a t u r d. Who was the co-lead manager on this offering? Why, surprise, it was Oppenheimer. Who was the co-lead manager on the stock offering a year ago when, again, CYTR did the offering at a twenty percent discount to the current stock price? Surprise, again, it was Oppenheimer.
But don't believe me, look at the performance of both the company and the stock price over the past ten years. You can sit on this message board ALL DAY, EVERY DAY, but the facts don't change. CYTR is pump & dump biotech dreck. Period. Full Stop.
That's when the other shoe drops. There was a reason for this, and it ain't good. Just thank your lucky stars that you weren't one of the individuals who paid 6.50 per share for this dreck.
And if you're a newbie looking to buy in at this price, take a couple minute to research the history of this company and slowly back away.
This t u r d is CYCC with a different stock symbol. One day soon you'll wake up and it will be trading for fifty-five cents a shard.
I'll bite. So:
1.) Party A sells one share of CYTR short to Party B for $1 per share Party A is now + $1
2.) Party B bought 1 share of CYTR for $1 Party B is now -$1
3.) Party B then ... does what? Sells that same share back to Party A? If Party B sells that share back to Party A for anything less than $1 Party B is losing money. If Party B sells it back to Party A for anything more than $1 Party A is losing money.
If Party A and Party B are the same party, or as you imply "left hand sells to right hand" this is just a losing proposition from start to finish.
You can come up with conspiracy theories all day long about this stock, or any stock that is at the end of the day nothing more than biotech pump and dump dreck. The fact that you have come up with that conspiracy theory doesn't mean it makes any sense mathematically.
"Most likely shorts selling to each other to drag price down"
If you never got past forth grade mathematics, I'll bet this makes sense.
Just another in a very long line of pump followed by dump. Shorting this t u r d on any news is the only way you're going to make money here. With the latest PR it wouldn't even stay pumped up for more than a few hours.
By the way, lest I too am tagged with the label of 'just another uneducated buffoon' -- yes, I do know the difference between they're and their, it just so happens that I am paying more attention to writing code right now than posting these messages.
I agree. I suspect 2.60-2.70 is not that far off. I don't think a lot of people here understand. There is an ever increasing overhang of bag holders here that will sell the moment they can break even, and with every PR the air in the balloon leaks out at a faster rate than it did with the last PR, making people want to pull that trigger even faster. And I don't give a hoot about your 'analyst upgrades', as I suspect that their getting calls from their very angry bag holder clients right now.