Price change parity between us and CYDY is a subject I have brought up a couple of times recently, and it looks to me that it was the driving force of yesterday's trading action.
For example, early yesterday we reached a point where our share price was up by $1.07, while CYDY was then showing a loss of $0.08, for a gap of $1.15 between share prices of the two companies. I like to be aware of this and monitor what happens when that gap gets closed. What I think happens is that once parity is achieved, that reflects support and resistance levels for the two companies going forward.
I mention that now, before the markets open, because at yesterday's close we had reached price change parity with CYDY. CYDY closed down $0.47, and we closed down $0.46. Most of that $1.15 gap was wiped out in the first 90 minutes of the regular session yesterday, with unrelenting downward pressure on HGEN share price, while CYDY traded narrowly in the red.
CYDY has been trending down for the last six sessions, and they are probably due for a reversal. The fact that we have parity in price change will hopefully mean that yesterday's closing prices will prove to be support levels for both companies. This is particularly important for CYDY because they have previously dropped to $4.40 per share from this level.
I'm like many of you here, and believe that we are wildly under-valued, while CYDY is over-valued.
But I think the market maker's algorithims have us yoked, and they aren't going to let us have too many days where we are going to show $1.00+ price changes when CYDY is only a $5 - $6 stock. I'll be glad when both companies trade at prices determined by the market, instead of by the market makers.
