Sorrento Therapeutics Inc (SRNE)

[midas716]

This stock truly disappointing. Every other stock I watch in this sector, around this price range, when they report income, I see news come out on Reuters and DJ Realtime News like "abc company reports .44 cents per share on 128m in revenue." This stock not only reported early, they were supposed to report yesterday evening, but it entirely flew under the investment community radar because no large news organization reported the profit per share or the revenue. We saw an early 10Q followed by an S-3 followed by Reuters reporting on the S-3 instead of the .44 on 128 million in revenue.

Fidelity has now dropped resistance to 2.50 from 5.20. Why? Seems to me that 2.50 has been support more than it's been resistance. I can't see why this company would release an 'At the Market' S-3 only to sell shares cheaper than what they are trading at now. That makes no sense. If they wanted to do that they could have done a regular offering and set a price below market like all other companies do and the SP would have for surely fallen.

The bollinger bands are now squeezed up real tight and it's trading in the middle. Now instead of a move up to 5.20 we now have to pay attention to a move down to support at 1.75? The reason companies do a 'At the Market' offering is they expect the SP to increase. That increase should have occurred with the .44 profit on 128 million in revenue that no large news organization reported. Need to ask myself... why?