It was not relevant to the drop. Shorts and swing traders manufactured all of it. Traders were not following that level of detail nor were they interested. They were interested in 1) publication, which swing traders said would happen; and 2) Adam Fuerstein’s tweets and headline, trial failed. Period.
They did not care about the clinical trials site and the company said right in the presentation what the endpoints were, why they were changed and when they were changed. The European Websites had already confirmed along ago that this process had taken place, but swing traders and day traders do not care about such details.
The reality is, the thing that was supposedly going to happen, that would expand the investor base to many, many more investors, publication, did not happen. So the day traders and swing trader premise for investing was not accomplished. Add to that Adam Feuerstein’s article title, even if they cared that it was false it would not matter if you got in at those high ranges that were set specifically for a very specific anticipated event that did not happen.
The obsession with the clinicalTrials database is deflection. The reality is the entire market has been down hugely YTD, and this stock has been flat. 5/10 was within YTD, in the middle. The premise that the company “blew” something and it all tracks back to the clinical trials database is false light spin. Blowing up a random detail to explain a price swing that is clearly explained by other immediately obvious and price driving events. A pump about something that was said to certainly be happening, that did not occur. And then a false light article suggesting failure and which certainly would have been written the same by that author (per his well established history and continued argumentation) regardless of any of the clinical trial databases referenced, and there were more than one that could have been referenced to be accurate along with the obviously true statements of third-party clinicians at a major, reputation relevant event for them.
So the lie did not stick, but the reasoning for the pump did not stick either. All of it was a wash. But also, what came out of it was that knowledgeable players held. The stock remained FLAT YTD while the rest of the markets tanked, housing, crypto, QQQ, XBI, NBI, all tanked, but NWBO remained flat. That is positive and counter huge macro trends.
I own NWBO. My posts on iHub are always posted expressly as just my humble opinion (IMHO) and none are advice, just my opinion. I am NOT a financial advisor, and it is assumed that everyone is responsible for their own due diligence.
