Anavex has already said what it is going to do. They will request a reexamination and they have already told us that the rejection was coming.
The expectations have already been set. The PR was an expected material event PR. I suppose they could have tried to do a more rah rah PR but everything is already in front of investors.
What surprised me today is how well the share price held up considering the rejection notice and the red overall market.
Someone or some entity has come into the market to support AVXL over the last week and is actively countering the shorts attempts to move the SP down.
I have mentioned the large trades below the bid as the shorts efforts to drop the share price. I am now seeing large trades at the ask soon after those below the bid trades and today I saw several large trades above the ask.
Make of that what you will, from my vantage point it looks like someone has entered the fray on the side of the shareholders.
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