Wow, SOLID RED and dropping, $6.74 on another "bid day".
Today's "Presentation" looks like a huge hit out of the park as always?
Just like all the other "big happenings" of recent (the "article", the "uplist", a lot of "PR", name change, the logo "thingy" and all the rest) - and it's trading below where it was over 3 yrs ago on the OTC.
Just no real buying interest on this one at this stage of the game it seems IMO, Nasdaq or no Nasdaq?
Oh well, it's wait and see time. Stepping in front of this here is likely to result in getting run over by a bus. I'll wait for a lower entry point which seems like a certainty to me- they're gonna have to massively dilute to fund any phase II trial unless they get a magic pile of money from somewhere else. Today obviously wasn't "magic pile of money announcement day" at the ole "big presentation" so that means more wait and see to me.
With no trial funding in place and large dilution their most likely solution that I can see- this is probably a prime target for the NASDAQ pro-short desks now. If they start to step on this thing, they can take the price down real quick. Need a lot of buying pressure now to counter all the stops and disappointed buyers that will get taken out in here if it drops much more IMO.
They got a whole new group stuck with a pile of shares at .08 or above or else a healthy loss- their Nasdaq debut crowd. I'm sure that group is real happy? Don't think others aren't watching that group who got stuck with shares above .08 that lost their value in a matter of days - and now just went to the side lines to wait it out and find the real bottom.
Looking real weak in here. Technical weakness as it just broke the 200 DMA of $6.93 and it's already in major technical weakness as the 50 DMA and 200 DMA are "inverted" - which is always not good and a sign of a down trend being solid in place.
Remember, now that it's on the big-boy's playground of the Nasdaq, their pro trader short desks and hedge funds and all- they short stocks using computerized algo's that look for this kind of technical weakness and then just pile on it- usually via automatic HFT trades and similar. Don't even always need a human sitting at a trade desk- their algo's just hunt and sniff and look for weak, down-trend stocks and then short um at-will. That's the big-boy land of Nasdaq.
My 2 cents.
