ATL,
What you say is true, but it's also true that people will sell some of what they have, and keep much of it, and they may do that many time over their lives, then pass on what's left to their children. My point is that we'll all do it our own way.
Personally, if my total portfolio valuation is in multi-millions, I don't know that I'll sell a thing. If I want $100K for something I wish to purchase, a vacation, etc. I have no qualms about taking it on margin, which I pay no taxes for, rather than selling enough to take the $100K plus the taxes I'll have to pay for taking it.
Of course this requires NWBO to be trading independently, or my taking shares in an acquiring company if that option is available. i In reality, I believe that by the time this stock has a market cap of double digit billions Institutions will probably own 50% or more of it. By the time it's $25 billion, it will be over 90% Institutionally owned. In part that means that many of us will sell to them, but even if we hold on, the company will dilute and virtually all those shares will go to Institutions.
I honestly can't say how this happens, but look at SGEN and you'll find that over 100% is continuously Institutionally owned, now I know there are also independently owned shares, I frankly don't know how this can be legally sustained, but it's been that way for years.
I believe that the investors who make the greatest percentage gains are the independents who purchased for well under a dollar, but those who make the greatest dollar gains will largely be Institutions who buy in after the price has reached $5 or more. Of course this makes the assumption the company isn't bought out.
Gary
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