ciao888
This breakout is definitely for real and can be related to many who have been waiting in the wings for news but are seeing the stock move in anticipation thereof before the news. Therefore, they have to take a position vs paying more in the future.
Also, you have a dwindling float as a result of years in a range where some significant accumulation has taken place. As you can see now, the stock is moving on pretty low volume. It is good volume but certainly not great. This tells me that the sellers are pretty much gone other than what you may now see from those who bought in while the stock was in the high $.20's and $.30's.
The great thing here is that this is an ongoing story that could have many twists and turns, thus, a stock price that could easily move in much the same way SONA moved. However, I don't want to draw any comparisons until we see much higher volume, both in Canada and the US. I do expect to see much more buying to come out of the US in the near term.
This company/stock could surprise many people, you have to understand that it has been in a slumber for a long time. Further, Ceapro has never been in as good a place as it is now. I do believe that many people are just now figuring that out. Many do not realize that as at July 1, the company is debt free, the balance sheet has never been this good. If the buyers in the US jump all over this stock like I think they will, who knows, a NASDAQ listing by year end may be a reality...........................................and I certainly do not expect that objective to be facilitated by any AEZS relationship......................................not in the cards as far as I know. |
