Anixa Biosciences Inc (ANIX)

[KOmani]

It's an ATM offering.

Basically it means that they will sell at the market price.

Nasdaq Companies that go sub $1 and receive notice can often go on runs like was seen at ITUS.

It is very hard to know when/if they will, but as you can see they usually have decent pops.

I usually play them the second plus days for 20%+ gains.

Sadly, not all sustain the first pops over $1 but what can happen is that someone puts in a phantom bid of sorts.

That usually squeezes some shorts who cover.

Last year there was a fantastic trade in SINO in which you could have bought $1.10s and sold for close $2 - which was an early catalyst that allowed the stock to go to $14 in November.

I also traded the move to over $14, but sold most in the $6 area ....

When you have a close to 500% gain, it's easy to dream up things like a house (lol) but I have been in plays that ran up and got snapped off by financings.

Better to take some off the table in chunks so you don't have regrets.

Yeah sure it would have been nice to sell all above $10, but I would have been kicking myself if I let it drift to break-even.