Shorts better hope the market doesn't start putting 2 and 2 together with all of the recent virus scares. I saw the same thing happen with the Ebola scare and the hazmet stocks. Gotta be in it to win it!
It's the darned etf(s) XBI and IBB. Celgene didn't help today! Can't believe we aren't moving on the WHO news and virus threats!
It will definitely run away from that gap if another alliance is announced!! ;-)
Saw this same kind of action in TROV last week the day before a positive PR ... of course TROV has given up all its gains, tho! ;-(
There hasn't been 664K "sold" ... somebody is buying the shares being sold. The IBB and XBI went red and most biotechs mirrored the move .. computer selling. The MMs can control the price in a range. I submit there are some shorts covering ... just not enough to create any upward pressure. That's why you rarely see a true short squeeze. fwiw
More controlled short covering today? 500K volume isn't too shabby!
No new info, per se, but the fact that Lode addressed the issue is positive, imo. Again, the credibility and reputation of Ernst and Young sends a clear message, as well. I'm either the luckiest or the dumbest person on this board because when I sold my house in late October, I went to all cash due to being way too distracted to pay attention to my investments. I'm more than happy to load up again in the $7s!! We'll see ...
Just wait for your shares ... if they want to yank the bid, I just pick a few more up. Got 2K more under $4.50 this morning. The insurers are like dominos.
If you are new to TROV, my best advice is to expect the unexpected. The past two days clearly attracted some momo traders because volume was thru the roof on a very low float stock. It needs to settle down. Yesterday's announcement was a game-changer, imo. After this volatility, I wouldn't doubt the MMs will try to bore you out of your shares. Don't fall for the low volume takedowns that occur all too frequently here, either. At these price levels, this is a put it away ... on the back burner, stock. The last secondary shares went off at $8.75 and it was probably those same "buyers" who shorted this all the way down to $3. Nice to have connections! Just my two cents worth ... and TROV very often trades independent of the overall market, both up and down. Good luck!