Replies to post #232191 on NorthWest Biotherapeutics Inc (NWBO)

[biosectinvestor]

He has no idea.

[JerryCampbell]

I don't know the identify of individual buyers or sellers, and neither do you (unless you have traded yourself of course).

You asked who could be selling. I gave you a list of potential sellers. Don't know that anyone in particular sold, and haven't talked to Woodford.

Given the bizarre reply, it is hard to imagine what you were expecting.

[biosectinvestor]

It’s after trading hours...so now he answers you...

[kabunushi]

Allow me to butt in because this is really basic. If the warrants are getting exercised that's wonderful for longs because either it's bringing in cash, or if they are being cashlessly exercised, then they would be disappearing at about 8 warrants for every new share generated. But we see the warrant conversions in the 10-Q filing at the end of every quarter and they have not shown a very significant number getting converted.

It makes little sense for somebody to exercise .30 warrants when the stock is at .34. What does make a lot of sense is for somebody to 1. sell the actual stock at a 35% profit (buy at .25, sell at .34) and hold on to the free warrant; having done that they may also want to keep the warrant as collateral and short the stock at .34. If the stock runs further up they give up the warrant to cover the short, if not they cover by buying the stock at say .27 for 20% profit, then sell again at .34. They may have been making good money on the trade while as a by-product, pinning the stock below .34.

The warrants hopefully will end up well in the money and get exercised for $, bringing in $30M later this year into 04/2019. But giving away 100 boatloads of warrants comes at a price when they go into the hands of traders who can then suppress the stock for months afterward. Traders can make decent money in the short term, longs need to be very patient to wait for their turn to make extremely good money.

[sentiment_stocks]

To be fair, I think Jerry may be thinking Woodford could be forced to sell due to the current situation his fund finds itself in. He will have to sell off certain holdings as there was, in a sense, a run on his fund (like a run on his bank) where too many people were selling out of their position with him. Had this continued, shares in the companies he held in this fund were in danger of falling. So there is a 30 day hold on his fund while he sorts out what he’ll be selling. I believe NWBO shares are at the very bottom of his holdings so selling those shares won’t yield him (or his shareholders) much, whereby with a data lock in the somewhat near future, could make those shares worth much more. It will frankly be interesting to see if he hangs onto NWBO or not. If he doesn’t, he’ll likely find a buyer to take them. But he could sell some in the open market. It all remains to be seen what happens, but it would be, IMO, unfortunate for Woodford should he be forced to sell, and then have that followed by data lock and a possible stat sig top line whereby the stock moves quickly up.