NorthWest Biotherapeutics Inc (NWBO)

[kabunushi]

The share count increased by another 4M shares this week. Today's trades at ask vs bid today was 1150k-590k. That's enough imbalance to have normally have moved the price even more - it seems likely that much of the resistance comes from the selling of some of those new shares. At .25 warrant conversion price, the guy who exercised would have to sell 1/6 of the new shares just to keep the net cost to exercise at $0, i.e. about 660k shares.

I guestimate that either the warrant exerciser is holding many of his/her new shares and without some of those shares being sold into the market the demand may have been more lopsided and we would have moved even higher. There may be an additional invisible supply of those new shares yet to be sold and fortunately the owner has been relaxed about how quickly they sell. Alternatively, the warrant holder may have already sold the shares short and has been covering their short. In any case, it's damn impressive that the pps is up in spite of the issuance of 4m new shares netting NWBO the company $1M. And we are following Sojo's TA tea reading to a T in spite of the float increasing by 2-3 days trading volume this week. Of course, we were also unscathed by the 2% market down day this week too, how cool is that?