There are times when market participants are concerned with the long-term valuation of the company, and there are times when a short-term event has created an environment that makes investors less concerned with long-term value but more focused on short-term issues.
What drives price movement at any given point in time, is contingent upon a multitude of factors: current events, time frames, motivation, perception of data, amount of information available, and market participants.
For a market to be driven by fundamental analysis, you first need fundamental traders participating in the market. They are the ones driving price based on their fundamental analysis. However, when there isn't a great amount of data coming out of a company, or it is disseminated infrequently, or the company is immature, it makes it increasingly difficult to determine the long-term value of the company's through fundamental analysis.
To date, there is no evidence to suggest that there are professional fundamental investors in CYRX. In fact, there are small retail investors, accredited investors, arb funds, market makers, and the capital markets groups that conducted the PIPES and offerings, that are participating. But, there are not any small cap or value funds that are accumulating CYRX because it is a fundamental buy.
The professional participants that are currently active in CYRX on a daily basis are driven by short term profit, and their strategies are technically and quantatively driven. As the company becomes more developed, and begins to release more information, then price will hopefully be driven by fundamental factors and institutional fundamental buyers.
