IF the overall market, and biotech specifically, hadn't tanked, the shorters of that secondary would not have the strangle-hold on TROV that we are seeing. They got lucky! Also, we know that some of those same investors put a hedge on and can make $$ both ways. If that is what is happening, they are wringing out the last drops of selling here! When they decide to turn it around, it will turn north. We're simply along for the ride, I'm afraid! GLTY
It's not all OSIR earnings related. Biotech and the market, in general, is getting spanked! Just a good opportunity for our friendly shorts to flex their muscle.
Would love to see at least 1 million traded today ... don't think it will get there. No obvious "flush" ... wishing that would have happened, too! But, with our low float, it's possible the shorts don't have that much firepower at this level. We're just lacking some bottom fishers. Selling begets selling, and buying WILL beget buying.
3K more in my pocket at $6.70!! Gee ... down only 100% from recent high and analyst's targets. What's wrong with THAT picture?
How does that equity raise at $8.75 look now? IF they hadn't have raised that cash, I would not be a buyer here for fear of a secondary! However ... while the market is pulling back, you can still find value in companies that aren't affected by unemployment, geopolitical concerns, etc. You know what to do!!
Eve XBI is down nearly 5% today! Biotech is high beta and the shorts have the advantage now. Avert your eyes!! This, too, shall pass!
Greedy market makers ... tell me how 16K to the buy side gets negated by 4K to the sell side? Happening EVERY uptick! Bring back the g-darned uptick rule, will you, SEC? Can't believe they are still shorting it here and now!