$MEIP... Arbitrary&Capricious.
Not sure I see any bad signs. Volume is in the middle of the recent range, some weakness from those that thought the BOA presentation would be different then the presentation 3 weeks ago. Like lots of ASCO stocks today there is a bit of weak hand selling.
MEIP is still below cash. It has assets that should drive stock back towards $3, it still has significant institutional ownership. It potentially has a value driving catalyst in 30 days. the AML data continues to look very good, it has another compound MEI-344 that looks good. Next look at small cap bio- almost none of the catalyst runup plays are working. XOMA, CPXX, CTIC, ONTY (only moved after data), SYN, CLDX AAVL are all not moving into catalysts. This is a show me market, maybe that is a sign of a top. But I think it's more a digestion before the next leg higher, it's healthy!!!!
MEIP is a pretty good pick since it's below cash, time will tell
-BioHunter
