The big volume today came in because there were huge stop loss sell orders in at 1.70, including mine. Despite some pretty big paper losses, I bought some more at the 1.70 level because of my belief the drug may actually take off. But I won’t lose any more money on this stock, and I bet I am not alone in that feeling, hence all the stop loss orders.
The good news is someone was interested enough in the stock to push it down to the point they could pick up the shares at 1.70.
Seems like the stock will now drift until the proxy contest plays out. I think most retail will vote for Denner, but not sure about the Tutes.
Would be interested in thoughts about how Tutes will view the proxy war.
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