I'm starting to feel the same way.... Yesterdays price action makes a lot more sense to me now.
Boy I'd hate to be one of the suckers who picked up shares @~ $3.50 in yesterdays pre-market. ( and I considered it)
One of the reasons I was attracted to ANX was Icahns involvement, I figured that his being a major shareholder would keep this kind of "Cowboying" from occurring... Boy was I wrong there.
How does Sickle Cell fit into Adventrx's product mix and expertise? I don't see any connection.
This line from the PR kills me:
"The target company has no employees, ..."
Also the numbers in the PR are confusing... It says "Current discussions with the target company contemplate an all-stock acquisition by merger. Other than an upfront issuance of approximately 19% of ADVENTRX's currently outstanding common stock (of which only 6.5% would be fully-vested upon issuance and 12.5% would vest subject to successfully attaining the initial development milestone)
But later in the PR it says " If all development milestones are achieved, including NDA approval, stockholders of the target company would own approximately 47% of ADVENTRX "
You see it often, not only in the US. As I said in a previous post, first the good news, afterwards the capital raise. Couple months ago, when the rate was in the range of 1.7, I got my average down. I was break even around 3$. I didn't sell yesterday, to be honest, I was to greedy. My mistake.
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