this board must be populated by the biggest bunch of rookie #$%$ "investors" ever. you are aware that an authorized share count has nothing to do with how many shares are actually issued? right?? it simply allows them to be issued, if needed. they are doing this because they ate hitting existing limits for shares issued for compensation, because you do it like once a decade or more, and "just in case" for capital (ex acquisition). if you are selling because of this you deserve to take a fat loss. get back in the shallow end of the pool.
the stock was 3.50 less that 4 months ago. it went from 3.50 to 7 in three days. if you don't think funds that have been in here for years at 2.50 or so won't take profits at 7-8 than you don't know how the game works. oncemore, because the stock is thinly traded, the act of exiting a large position IS what drives the stock down. selling a block of 50k shares blows the price down .15... this ain't appl. that's the same reason it shot up. dropping a boulder in a bathtub. the fundamentals have not changed with plnr. sell if you want. I stand by my statement - once you see the vol selling taper this will move up as quickly as it came down...and, can rocket if another fund adds.
you folks need to read the filing... with stock comp. grants they are nearing their authorized share limit. the increase in authorized shares is procedural - of course, the rationale includes the flexibility to raise capital. boilerplate language. however, this isn't some no revenue biotech. sitting on $15m in cash, cf positive. to suggest they're intending to raise money is ignorant. the ONLY reason they would do this is (possibly) to acquire another firm; however, one would think that would be an accretive transaction, etc... the selling is clearly a combination of a fund exiting and some shorts. expect to see a 13 filing with someone zeroing out their holding. then a slingshot ride back to 8. stock is thinly traded - goes up as fast as it goes down.