I've been contending that anticipation would drive the price to the $.35 to $.50 range or higher before approval. Technicians say there is always a tell before a major event, normally word gets out to someone and it spreads, thus anticipation occurs because of a leak. Some leaks come out weeks prior, some just days, but all it takes is someone who knows telling a friend to make an investment.
The SEC etc. would prosecute if someone involved in the decision traded on it, they'd probably look at the close family, but friends are a different matter, they can't possibly follow everyone a regulator with information knows. Leaks occur, people get wealthy on proprietary information, but so do others as the word spreads that good news is coming in a given stock. That's anticipation. I have expected that to occur here.
As an IMGN investor for nearly 4 decades, I know it isn't always true. Some of the time you can review the trading for days to weeks before really positive news, price isn't up, volume isn't up, then there it is, the good news. I've seen new partnerships announced, positive trial results announced, etc. The point is, no word on huge news can occur, no one may leak, or if they do, the leaker's friend may buy, but keep their mouth shut. IMGN generally traded in single or low double digit levels, if someone purchased thousands, or even tens of thousands of shares over a period of time, it would not have been noticed. At our price, much the same can be said about hundreds of thousands of share, someone who acts on a tip, but says nothing, doesn't move the anticipation needle.
That said, without anticipation at play, Monday could be the first day an announcement could occur, or any day thereafter. I'm really not certain how far before regulators announce a decision that they're certain it will happen, or when, but secrets are hard to hold, but sometimes they are. Even the company has a few days to announce, so they could also be the source of a leak at near the last minute. I don't believe they'll withhold good news long, but if they get it late in the week, a Monday announcement is far more effective.
Of course bad news works the same way, we all know the story of Martha Stewart and her CEO boyfriend.
That said, approval could come without anticipation of it, so tomorrow is the first day it could occur.
Gary
Bullish
AI
