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Thursday, October 15, 2009 5:16:36 PM
Sounds like a stupid question, but I just got burned by the inexplicable plunge of CXM on great news of positive phase II study results. It was a classic, but well disguised, pump and dump.
Any thoughts on if IMGG will share this same fate? IMGG is up over a thousand percent as it stands now with recent dilution, and more dilution planned. With over 300 MILLION shares outstanding now, and more to come, this does not bode well for much, if any, upside. People here talk about $2/share and upward on approval, but that would make this a nearly billion dollar company. Doesn't add up to me.
I'm long 40k shares at $0.30/share, but I'm shaking in my boots after the CXM debacle (which luckily I had only a small position).
Any informed replies would be appreciated. And if anyone is familiar with CXM, there was a guy posting on the Yahoo board who predicted it's plunge, and everyone flamed him mercilessly before it tanked...and he was right!!! Scary stuff.
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