Ok, I'm posting this one without detail.
Over the years Mirren has asked me to post TA occasionally.
This one doesnt really give TA.
NTI
You are going to have to be very alert with this one. I do hold options.
Info.
About a billion shares. And hardly any volume.
It did have an options clause that complicated things. You really probably should read through it.
But that clause was actually utilised and I think those shares are washed through.
There is so little interest in the stock.
It's a bio. Just look at the auction trades on any day. They are about $5000 worth.
But, the results of their ph 2/3 in autism spectrum disorder is very due.
Very early Q2. At one stage they said possibly late Q1. So its absolutely due.
The MC is somewhere around $80 mil and I think a 'very' positive announcement takes it straight to $200mil ish.
It will rerate.
If the result is poor it will crap itself like nothing else.
Also keep in mind that they only have $5mil cash and they have quite a lot going on.
I'm going to hold this long term if the results are great.
But as a day trade just be wary that I think they'll go for a CR if they can get a VWAP of 30-35c.
So if you find yourself on a great 3 day ride with this stock then just think about it.
They don't have partnerships in place. They will need financial stability to progress.
If the results are great I wouldn't be taking 20% as a win. I think we will see a multi day run. But I'd certainly have an exit strategy if I was day trading.
And I expect extreme volatility.
Just thought I'd share.
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