The pps move of yesterday is not a real market move.
It is some twitter, group-followers or other effect that we have seen before but this time the guru needed buyers to dump whatever he got and he had it in large chunks (see volume of some individual trades). So the Market Maker had to really make market yesterday.
So a volume of 4M shares majorly balanced out by whatever number of shares that needed to be dumped results in a poor 9/10 cents pps up compared to that volume. The ATM versus a pre-arange buy at the open market is also such a construction. The following was instigated at some horse and pony show in that case and tuned afterwards.
You'll see a real move started on real PPHM news begin in pre or after hours. If PPHM is smart they launch the news in after hours allowing the pps to move without being subject to the SEC "10% rule" so that when the main session starts the pps is already much higher and the 10% rule will apply on the opening pps resulting in no or few trading holds.
I just fear they don't think that far and we may see them announce in pre- hours, which is still good but a little less or during the main session which is not good at all and actually is the moment where you should announce bad news during NY lunch time (the SEC rule works in both directions).
As we have ZERO pre-hours activity today and no announcement I think the pps move of yesterday was a hit in a bucket of water. It does however have the merits to reset the delisting clock and with the season approaching we may slowly start to take position above the 1.11$ up to 1.27$ range where we should have been if it weren't for the international drama theater of Q4 of past year.
For more we'll need news with lasting effect (Cotara PIII, Financing, etc).
Personally I am still not in favor of a financing deal and prefer ATM dilution which is cheap and no real dilution because as posted before it turns that money into leveraged company value in the form of know-how, IP, platforms, admin value (FDA), etc. But that's only my opinion I do understand the reasoning on this board too!
