Diz, As explained by a friend of mine:
"One of the problems with small med tech companies that do not have existing revenue streams that one can create a value using, is that when they report news like BLRX did today many traders will use any news, positive or negative to sell. BLRX was trading above average volume before today's news suggesting traders were buying looking for a positive catalyst that could create some quick money. The news was positive but not spectacular and leaves room for speculation about the potential success of BLRX's AML treatment. Coupling this with a generally weak med tech market over the past few days including today then the failure of the stock to respond is not surprising. I suspect that the stock will consolidate between $1 and $1.10 and then attempt to work its way higher. For long term believers the stock looks to be a buy below $1.05."
My interpretation is that Sheff simply used the news to sell. News was not bad at all, but traders always hope for that absolutely stunning news which can give you that multi-bagger in one day.
I am here long-term for a very promising pipeline. Not a trader.
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