Innovation Pharmaceuticals Inc (IPIX)

[Roger 2]

AlanC Saturday, 05/02/20 11:34:34 AM
Re: None 0
Post #
295050
of 295057
FINRA short sales of ipix
20200501|IPIX|1465525|0|2188093|O
67% of yesterday’s volume was short sales
Go ipix!!!


Background-
Market Makers are permitted to sell shares they do not have in order to meet clients demands and keep the market for the shares they represent from log jamming. Due to the ability of modern transfer agents to electronically track and assign shares to the correct accounts the actual shares rarely need to be produced. The market maker has 3 business days to locate and show that they have access to the shares they sold. They don't have to have the shares only a plausible ability to produce them.

The FINRA daily short sales as noted by AlanC for the past month or so have averaged around 50% (except for a couple of days when PPS run up induced weak hands to sell) but this week IIRC the average is closer to 65%. IMO this is a positive sign. MM's seem to be running into increased difficulty locating shares to add to their virtual stockpiles. I believe that if they want to remain as MM's for IPIX they're going to walk the PPS up until they find a spread that allows them greater liquidity.



OT
Moderna has a potential product. They have 335mil shares outstanding and a market cap around 15-16 Billion$.

I do not see IPIX if it produces a viable CV treatment having any difficulty surpassing Moderna.

Just sayin.