prophet_often & thread,
Revisiting some of the biotechs facing lock-up expiration. In a previous post a couple of weeks ago, I noted that virtually all of them were in the toilet, and that there didn't seem to be much room for more downside. Since then, the market and many biotechs have rallied, while most of the summer IPOs were left behind. Now, with the market looking toppy to me, with rate cuts priced in, I have had a second look and . . .
Two exceptions are ILMN and GCOR, which have bounced towards resistance. So those two might be worth a look. Also AMEV, depending on what happens as a result of its analyst meeting this afternoon. But it's seems to be forming a double bottom.
Note that MLNM and HGSI are also facing lock-up expirations from their large secondaries. They also could be worth a look. FWIW, bailed on a short-term long on MLNM yesterday. Too early, but I made some change, so I don't mind.
Cheers, Tuck |
