Why don't you check sec filings before you lying?
Institutions are holding 1.3M shares until March 31, that's 16% out of 7.8 total floating shares.
According to the trading activities during the past three months,
the total institutions holding might have been up to 2.5M shares until June 30,
that's 32% of total floating shares. That's called accumulating.
Also watch that 1M shorted shares, it's helping the institutions to do accumulation
and it would have to cover sooner or later.
I believe the bill will pass.
Think about how many jobs will be gone if it does not extend.
Actually it should have been a permanent policy if it weren't the games the politicians are playing.
This policy started on July 7, 2009 and it's expired yesterday.
This should be a good news for the US Bio-diesel industry.
Make it clear - Elong is a loser in the competition to CTRP.
But Expedia won't ever give Elong up so they might (it's just the speculation of the market so far) sell some Elong shares(say 10% - 20%) to some institutions interested at around $20 - $22 but Expedia will still maintain more than 50% voting power.
This move won't solve the fundamental problem of Elong.
But It could help Expedia to control the risk if Elong completed fail in a few years.
So the next move for Expedia might be to invest in CTRP.
But then it would be a bad news for Elong IMO.
I am not sure what would trigger the breakout, it could be any news from blender credits or the fundamental improvement or maybe just from technical point of view or maybe just the shorts are tired of being short on this value stock.
Anyway, a breakout from $12 to $14 - $15 level might be coming IMO.
Keep this in mind, the book value is $16.
If the blender credits is passed, this company could have tons of cash(maybe up to $10 - $12 cash per share) in the next two years.
Even if Expedia wants to sell, nobody is buying.
Even if CTRP wants to buy, it won't be approved due to 80% total market shares combined would be monopolization.
Cui has completely destroyed Elong and now Expedia wants to abandon Elong and jump off the ship.
Sentiment: Strong Sell
$22 is the top, drop back to $15.
This is pure speculation.
$22 was the price when Renren sold Elong a few years ago(they bought at $7).
Nobody wants a loser, not even CTRP.
CTRP would kill ELONG in a few years, why would CTRP want Elong?
Sentiment: Strong Sell
The key point to $100 is for the pill to pass FDA approval.
I feel they are on the right track and these Jewish people are smart enough to make their pills pass FDA approval.
I think $9 is the long-term bottom.
It's not likely going any lower.
Don't forget the public stock offering was $10 six months ago and the insiders are buying between $10.15 - $16.35.
A. Plenty of cash - $25M (most of the cash are in short-term investment right now) to support the company research and operation for at least 2 - 3 years or maybe 5 years since last year the company only spent a few millions cash. Stock offering at $10 last December.
B. The major insider and management are buying between $10.15 - $16.35 this year showing the confidence.
C. 1M shares out of 7M total floating shares were short, they have to cover sooner or later.
D. FDA trial is going through much quicker than other companies like Mankind. Now we are at Phase IIb, the next and final would be Phase III which would be next year.
E. This company is a Israel company. Remember Jewish people controls wall street, most of wealth, media and political powers in US, they know the FDA rules well which makes their medical drug easier to pass FDA test.
F. Once their drug passes FDA approval, this could easily become a $50 - $100 stock since it's market capital right is only less than $100M.
G. I have noticed signals of continuously institution buying the stock and they are accumulating the shares.
This would make the stock price goes much high with extremely low float at only 7M shares.
We could tell the institution holding increasing in a month.
H. From technical point of view, the high of this year is $31, this stock could easily bounce back to above $20 with a little bit good news say more insider purchasing or partnership with a large company or more positive test result etc.
Sentiment: Strong Buy
The management had showed their confidence on the company by buying up to $16.
Smart institutions and investors should follow.
Actually the institutions are already collecting the stakes quietly.
Sentiment: Strong Buy