This company has to be taken private . It 's out of love by WS . even good report cannot move the stock . it's heavily manipulated on low volume . no reason for company to be public. I think at current valuation - private offer could be close to $2.
it doesnt look like this company worth anything. keep sliding since last September- lost 90% of its value for 6 months
"fake head" - as usual this stock cannot hold the gain . 35K sold at 3.90 , and downward from that point. $4 is a strong resistance.
it happens almost everyday - rising on big volume , and then slowly sliding . just cannot hold the price. very manipulative stock. good for MM to make money .
this stock is like frozen. no significant movement in either way. Even on high volume days - ( over 100K) it's still closed flat. Does anybody remember what event caused this stock to jump to $4 in December ?
it's a logical close for the end of the quarter . Institutional holders closed their losing positions - stock is down over 20% . Almost 300K shares sold at the last 10 minutes. Hopefully next quarter will be better ( of course, if any news coming- otherwise , it will continue go down )
I didn t say options have no effect on underlying security , I said for this particular stock , it has no effect. 56 open contracts , most of them just covered calls , by individuals . Institutions not buying not protecting it's position in ECYT.
As for sector itself , it's under tremendous short pressure by hedge funds. They shorting ETFs, like XBI, BIB, IBB, and fund mangers have to adjust their positions in stocks which are part of these indexes . Nothing can stop it until billions of dollars stop betting it on short site - and we dont know when it 's gonna happen . As you see VRX down 85%!!!! just for 6 months, and still has room to go down. I think XBI index can go as low as $25 ( at least , there is a strong support in that area )- and it's another 50% drop from current prices
I also think ECYT has potentials, but I dont see for last 2 years , that stock price reflected any of those potentials .
The worst part of Biotech malaise , that venture capitalist and other investors will stop funding Bio companies , as well as Big pharmas ,and that , already , could affect people's life .
Stupid world - people paying for "virtual " stuff , like FB , or GOOG , thinking that it will make them immortal.
Smile, stop telling this BS regarding option expiration. It has absolutely no impact on trading activity for this stock . You absolutely have no understanding of options trading and its effect on underlying security. The whole Biotech sector in bear market for last 6 months, which characterized by bigger and prolonged down movements with some upward bounces . Unfortunately, without positive news , this stock will be trading in 2s. Biotechs are facing irrational market , especially in lights of upcoming election. Hopefully, people realize that Facebook or Amazon will not cure cancer , and will start again investing into biotechs , and provide necessary funding for research and drug development . This market is driven by psychopaths!!
it will be definitely a move soon- accumulation line is slowly climbing up. stock crossed 200ma. Soon, 50 ma will cross 200 ma-( with current trend - it needs a week).
he got 150K worth of options in December , and now selling it - we dont know what are the terms for those options ( they have expiration ) . I would not worry for that. its really common practice.
There is also some buying among insiders for last 3 months