If you don't mind my asking about your technical analysis, what would you see "technically" that would lead you to believe that a $1.35 stock could move to $4-6 range in 6 weeks?
You also mentioned "the deal should be near", is that the BSX rumor? Unless there is a leak of news, why would a deal necessarily be near?
You also said "CEO also mentioned a bit of institutional buying starting happening around 2." Was that info released somewhere?
Just trying to figure out what is going on with the stock. I don't have a large position (unfortunately), but there seems to be a great deal of speculative buying in a company that has zero revenues for the 9-month period ending Nov'04, and only 75k revenues the 2 years prior to that.
If a deal is not imminent, we would also have the issue of possible additional financing being necessary, especially with the stock price being higher, might be a good time for the company to do so, that would be weak for the stock price.
Not bashing the stock, like it very much but the need to understand why these sharp spikes are happening. I feel better with the slow and steady increases. Less of a chance of significant corrections.
Regards,
RJ
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