Hard to say. The units have been crazy too. Doesn't make sense (or does it). I see people asking about it on twitter. People don't even know what they are buying.
Hope you're right about the warrants expiry being extended, but doubt it. I'm really hoping that the melanoma trial has some great news to report and that's what this weirdness with GALTU and GALTW is about. I wonder though if it's just impulsive day trading...
That's exactly whats going on. Because it makes no sense for the company to extend the warrants. They have more than enough dilution and overhang of warrants and people aren't putting money in at those lower prices. So extension is not an option. What you have to take notice is that the average price of the warrants over the past couple of days is about .25 and there are about 200K traded. So who just made a 50K bet that the stock is going to be over $6 by the last week of march. Someone who has a position close to 5% and doesn't want to declare it. Smart money is the answer. What is the only catalyst that we know about between now and then? The Bio Conference. Sounds like it is going to be amazing. Could be a licensing deal in the works too. Don't know but whatever it is no one bets like this on BAD news.
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