There's a bit more than free market dynamics going on here, for sure. The fact that this whole situation could change on a dime and shoot back to $10 (or wherever) by Tuesday is evidence of that.
This can only be stated by someone who is unfamiliar with the news that has come from Advaxis in 2017. Positive phase 2 results, initiation of phase 3 trial in cervical cancer, initiation of the NEO study.
If investors don't notice these, then they will once the EMA filing has been completed. And then people will look back on this time and wonder what made them so frightened.
Why?
Current cost of developing ADXS-HER2 is half a million per quarter, and it is many years away from a possible approval. Why should they continue to spread their resources as thinly as possible?
So this would imply that you understand that the stock price is based on speculation on the part of investors, and not quite based on classical supply and demand.
Everyone has a right to voice their frustrations, but it will never cease to make my eyes roll. This current downturn is not based on rational analysis and careful consideration of valuation. It's based on speculation, which can turn on a dime.
Will we be seeing the negative folks come back when the stock price hits a new local maximum again on no news? No. We won't hear from these "troubled longs" until the share price mysteriously shrinks again.