thank you for update $8 target 'Sonnet BioTherapeutics Inc (SONN)'
[Warrant holders want to exercise their warrants when the price is well below the current price (Unusual).]
Soon afterwards the company puts out three fluff PRs, seemingly to get noticed.
The day before the warrants can be exercised an analyst reiterates his buy recommendation with a target price of $8 -- Analyst will always give a low end target price.
Something big certainly seems to be coming. I had always said that because of the warrant holders exercise price of $3.19, that anything below that is a buy. But because the warrant holders likely had to buy the warrants, their breakeven price would be higher. And you know that whatever that breakeven price might be, the warrant holders expect to sell at a considerable higher price. So I'm sure anything below $4 is probably a buy (assuming we are correct that big news is coming).
Looking good so far.
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