Those of us who are familiar with the way this trades know the small float makes this very volatile. Just buy the dips and hold on! The "tell" today should have been how steady the accumulation has been, including the buyers that just stepped in at $3.80.
With the Red Cross news out of the way, shorts felt they could pull out all stops given the market freefall. There was no more backstop or uncertainty of BIG news. It's the way of small cap biotechs, I'm afraid. Now, the question is ... what is a catalyst for the overall market? I don't see one!
This isn't exuberance ... the market isn't even aware of the conference, generally. "people" are accumulating the stock ... eventually, the shorts will move on. They've been goosed a couple of times of late by insurance acceptance. Tick tock!!
Institutional % has risen, too. Just really difficult to shake the shorts when as some have mentioned here, they've got a clear channel that they operate in. Time will tell!!
Too bad it is wasted on such a disastrous market environment. My biggest fear is someone WILL swoop in and buy us for much less than we deserve!!
They've beaten this down about as far as they can ... I am adding, AGAIN! I can wait!
News was leaked a day earlier. Market was getting pummeled and we rose on HIGH volume. Loose lips!! Nonetheless, great news!
It tells me that some short-sighted traders are gifting their shares to the BIGS!!
Letitgrow, you might be on to something at this level. I had a buy order in at $3.65 for 3K and it still hasn't filled?