AgeX Therapeutics Inc (AGE)

[saxonia40271]

The reaction occurred with a delay of two days. It was the first presentation that focused almost completely on Reverse Bio. They appeared confident, in the shareholder call, to advance the business on all fronts, in the coming year. They also reiterated how strong their patent portfolio is, and didn’t seem concerned about Jeff Bezos and others entering the field. Instead, they sold it as validation of their ideas. That demonstrates great self-confidence. It might have been rubbing off on shareholders, but it’s not like they reinvented themselves. People, watching the space closely, couldn’t have really been surprised. They redesigned their presentation and threw in a few extras, we hadn’t seen before. All in all, I‘d say their confidence coincided with a technical situation where the stock was oversold on all timeframes. The market action seems to have crossed a critical threshold to draw the attention of momentum traders and algorithms. That intensified the spike and accounts for the exceptional volume. It was the second-highest volume in the stock‘s history. The number of shares can only be realistically explained by the same shares, changing hands, several times a day. The volatility was extreme. The aftermarket close was already down 34.17% from the top. There’ve been at least two other spikes like this. The sustainability remains to be seen.