InvestorsHub Logo

foxi

10/19/21 9:55 AM

#43365 RE: morgan8 #43364

Looks like there's dilution: Accumulation Distribution on a daily chart shows there are now 80 million more shares distributed than when this traded at lower prices back in July. In a healthy stock with no dilution you'd see AccDist rise with price, and rise with flat trading as investors loaded. Either the company is heavily diluting, the shareholders don't believe in the company and are letting go of mass amounts of shares, or MMs are shorting it to death.

I suspect the former, the company probably has its hand in the cookie jar figuring that shareholder value will return eventually with all the JadiCell news. Some dilution is okay as a company needs to raise operating cash and this prevents doing so through other methods. To me, the continuous distribution suggests that the company is being aggressive and greedy, makes me want to flip only and not hold long. To be fair, bio R&D takes a ton of cash.

Daily chart also shows a steeply falling wedge. Profit targets are .070, .093 and .126 whenever it breaks out. :) Should stop falling soon since RSI is oversold in breakdown.