JFR, I agree, in fact if there were any Institutions who didn't belong in NWBO today's the day they had to be out, Monday's when they can get back in. I expect we may get more than normal Institutional buying Monday because the stock has till June 30th to meet the Institutional requirements, or they'll sell again by that date.
Frankly I don't know why Institutions don't use market cap rather than stock price to determine what they can, or can't invest in, but the same thing can be said about exchange listing. A company with 25 million shares outstanding and a share price of $4 can get on the Nasdaq, with a market cap of $100 million, and stay on it with a $1 share price and market cap of $25 million while a company with nearly a billion dollar market cap, but over a billion shares outstanding can't get on, or stay on an exchange. In the case of NWBO, they'll probably need a market cap over $5 billion to get a $4 share price required to list on the Nasdaq unless they're permitted to relist at a lower price, as they were on the Nasdaq before.
The exchanges by operating this way are encouraging reverse splits, whether they're intending to, or not, and it's rare that market cap is maintained through a reverse split. I much prefer the company not doing the reverse split as long as eventually, with approvals, they should easily be able to list on a major exchange without it.
Gary
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