It will not go below 50 cents as 50% of the float was bought at 50 cents before the R/S to pay off the old debts, so they would be heavy buyers there, and it may hold $1 as a real bottom for good now as no one was selling below the R/S $1 equivalent price before the R/S, and the volume at the ask was always around $5/share before the R/S for two years. MMs might play a bit with it from $.68 to $1, but I doubt we will be allowed to buy anything under $1 in volume. I plan to buy more at up to $1 for sure.
The float is only 250,000, and 50-60% of that may still be restricted so any positive news, or favorable F-4s and post R/M financials will rally it $5 with ease. Then any news after that of a first business deal, buying a biotech, will run it hard to maybe $10 to $20.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
