Avid Bioservices Inc (CDMO)

[EYEBUYSTOX]

Wouldn't be surprised if it went below $3 next week.

$2,$3 and $5 are key margin requirement levels for a lot of brokerage firms and I wouldn't be surprised if, after the great data, more than a few people rolled the dice on some margin buying in PPHM. Similar to what happened during the 1 day drop below $2 a few weeks ago I can see it happening again.

Make no mistake about it, I'm in the conspiracy theory camp. I have a pretty substantial position in January calls and that same day the stock broke $2 for a day, someone sold 1 contract exactly one minute before market close and that single trade knocked my account balance down tens of thousands of dollars. Nobody trades 1 contract. It just doesn't happen. But if I had been on margin I would have been forced to sell my shares at a discount. In 60 days it won't matter anymore but for the next week or two the games will continue IMO. And, for goodness sake, don't use stop loss orders. It's like pouring chum into a shark tank.