Learn to read!! Short interest at 3/30 is down 1 million shares from last month
If the stock closes at 5.00 on Friday, the option mm's keep any premiums they made. Both calls and puts expire worthless. Common practice among the MM's. They epitomize the essence of being crooked.
There are 784 open 5.00 strike call contracts and 744 open 5.00 put contracts expiring tomorrow. The option MM's will pin the strike so as not to have anything in the money
Edgx is throwing everything they can at the bid. Between them, Batsx and NTRF dark pool, it should make for an interesting day
I agree with your statement regarding bankers but what half way intelligent attorney (oxymoron ??) could not have foreseen the market reaction. Any business 101 student knows that a hint of dilution is pure ammunition for the HFT bunch and short sellers. My real complaint is the lack of communication regarding working contracts and prospective future business. Murphy's interview about pipeline status said basically nothing. Platitudes are not working and it's time for someone at the company to do something to defend the PPS. If the stock keeps getting hit, the next step will be the securities lawyers using the opaque statements by management to start looking for a class action plaintiff. Maybe Murphy will make some kind of definitive statement tomorrow in Boston.
If the business combination required dilution of present shareholders, Keith should have gotten a second legal opinion. In my 35 years dealing with public companies, I've never seen a secondary BEFORE a deal was well into negotiations. A joint venture simply would have required access to cash for the venture, and a merger or buyout would have required no additional cash. Management, by virtue of their statement that there would be no updates until earnings are announced, almost appeared to be colluding with short selling hedge funds. If there was a substantial institutional buyer, the price would not have imploded almost 50% in a month. The manipulation has been rampant and the company played deaf dumb and blind while it happened. It's that specific behavior
which has led the market to lose confidence in Murphy. The science is great and maybe it will generate substantial sales but, without truthful updates from management, it will take a long time to repair confidence in Murphy as well as the share price. Since it is us, the shareholders who don't collect a salary and options who have suffered the most, the least that management could do is give us factual updates.
The announcement of the possible secondary before they announced any progress with the assay sales was a decidedly stupid move. They have plenty of cash on hand and no matter who they hired, it wouldn't deplete the cash. Murphy's move and lack of strategic market knowledge opened the door for the shorts to decimate the PPS. Hopefully, they've had their run and will start covering and move on. He may be a great scientist, but he's in la la land when it comes to market knowledge and what it takes to run a public company. The science is great and will ultimately help many people, but the bottom line is that the company should be bought out by one of the deep pocket pharma companies with more management depth.
The shorts have found the vulnerability in that, until management says something credible, this is a short seller's dream. Management has created their own downfall
Maybe, when you learn to spell FINANCIAL TIMES, you might get a raise up to .10 per basher post for your false BS
They can get away with it until Omar actually says something credible. The street is not happy with the RM and in order to get any incoming buyers, he has to prove that NQ can and is adding to the bottom line. He has an uphill battle and tonight's conference call could be his last stand. The opinion on the trading desks is that Omar's resignation could be the best catalyst for the stock price unless he actually instills a bit of confidence this evening. GLTA
Try spending vision at the grocery store and see what happens. Execution is what the market is looking for and Keith should have simply kept his mouth shut until he could display some sort of execution
MM's do all of what you said but not every day. The street is simply fed up with Murphy and all of his non-information. The buck stops somewhere and Keith is not equipped to handle it.