Seelos Therapeutics Inc (SEELQ)

[value1008]

Cartonet, i'm wondering if players on the sidelines (hedgies, fund mngrs) just saw some price weakness after the PP and decided to wait a bit longer to see how far this might fall to new support level post-dilution. The quick plunge through the 200dma and 50dma over two days (June 17-18) (right before the markets began their rapid plunge below the 50dma) definitely looks like a bit of "manipulation" to me-- maybe some of those hedgies piled on with a short position before they want to go long on APRI at better prices? Certainly stranger, more dastardly things have happened before....

An issue here is APRI's small float. In fact, one of the reasons for the PP offering may have been to increase float size. I've heard that institutions have "required" such things before taking a significant position. JMO...