NanoViricides Inc. (NNVC)

[JG36]

I am one of those underwater longs. I am not displeased by the uptrend either, even though it means I'll probably lose the 1.40 contest. But I see no fundamental reason for the uptrend. My guess is that some shorters started covering at about 1.50, which pushed up the price, which encouraged some more shorters to get out while the getting is good, which pushed up the price, etc.

This will stop when all the shorters who want to cover have done so.

I expect no news that matters over the summer (and probably most of the fall) so there's plenty of time for the price to drift back down again. Maybe Rawnoc will win the 1.40 contest after all.