Replies to post #239603 on Avid Bioservices Inc (CDMO)

[Robert C Jonson]

Paul, I think it was most likely a mistake: Somebody put in a limit order and put in the wrong upper limit. I've done it before, but not as costly as this one would have been.

RCJ

[north40000]

Likewise curious---indeed, when I first saw our brokerage accounts later that evening, they had the PPHM closing price as $1.27. A subsequent printing corrected that $$$ value to $1.10.

Two thoughts: 1) ATM AH use by PPHM. 2) Initiation or continuation of investment AH by some large entity or deep-pockets individual with or without benefit of newly authorized shares, as earlier discussed by others including BCS and me.

[PPHMVERYLONG]

Not a technical expert so I do not know. But when the pre-opening tomorrow morning shows the s.p. is flat, it means we spent time thinking about nothing.

[Protector]

pphmtoolong, this is not accurate.

There are only about 3K shares traded at 1.26/1.27$

After-hours is a time for the pro's mainly (most broker force limit orders on their customers in PH and AH to avoid surprises in filling market orders in low liquidity and high-spreads).

One of the things pro's (e.g. brokers) do in AH is margin call related trading. The trades you mention where AT ASK so that points to forced closing of a short position.

The other, about 22K, shares where for 75% close to the closing price of 1.09$. 25% somewhere in between around 1.15$.

It is my personal opinion that meaningful trades based on some REAL NEWS (leaked or otherwise disclosed for 'job'/'position' reasons to some people) would result in much higher volume.

I saw in an e-mail that arrived during the night that PPHM is at 1.27$ while NASDAQ still shows 1.15$. But 1.27$ is the last AH trade.
The bid of PH will very probably be BELOW 1.27$ and everything will be driven back for the open to around 1.10$ I think.