Last hour today on $CYTR, That was painful, The SEC should be investigated for not investigating this kind of crap that happened today. I found this in the last hour of news:
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"Market Chatter: CytRx Slides 14% Amid Talk Co Plans to Raise $20 Mln - $30 Mln in Offering
BY Midnight Trader
— 3:21 PM ET 04/27/2017
03:21 PM EDT, 04/27/2017 (MT Newswires) -- CytRx
CYTR slumped 14% after theStreet.com's Adam Feuerstein tweeted that his sources told him the company is planning an offering to raise $20 million to $30 million at a discount to the market. He said the company is trying to price the offering tonight."
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How much did the shorts pay him for that tweet!!!! You know they did!!!
I should have been more suspicious of the under priced call options!!!! I'm out with a 10% loss, cutting my losses on this BS!!!! I should have sold the day after I bought with a 30% gain.
Those with time to day trade all day with their finger on the news and sell buttons may have a good time with the volatile volume here for a while, good luck.
But a 30% , 30 minute loss, 30 million dollar MC hair cut caused a forking Tweet, and needing to eagle watch this crap all day long is not possible for me, and I don't trust MMs with stop loss orders as they will use them to rape you.
If CYTR needs to sell shares at a discount to market at less than $1/share price tonight, this soon, then they have no good news coming in July!!!!!! For that reason I am out to stay out. Good luck folks!!! I should have called a take your profits sell call the next morning. But it did look like this was going to run to multiple dollars.
If that tweet was a lie, I will be even more pissed, but the call options were too cheap and were/should have been a warning that someone knew this rally was dead at .99/share.
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