I dunno.
Opinion:
quote.yahoo.com
Biotech stocks in general live from legitimate news to legitimate news. In between they languish and the price decays, as the impatient investors lose interest and bail out. Or maybe it's a case of the normal ebb and flow of natural sales (deaths, divorces, new house, etc.) which is not compensated for by the influx of new buyers.
Also, CYPB has virtually no institutional holders except Aries fund, et al. Retail investors are notoriously fickle.
Possibly also there was concern over the registration of previously issued restricted shares.
On the other hand, note the following:
bigcharts.com
The upper chart shows that the vast majority of transactions during the past 12 months have occurred at or near the current price.
The lower chart is a track of Money Flow, indicating that there has been a *serious* net outflow of investment dollars in CYPB since mid-October.
This coincides with the stock hitting $3, so maybe some people thought they'd take their $3 and run???
Notice that this outflow began before the results of the FDA Panel were announced, so I don't see this fitting the "buy on rumor; sell on news" model.
FWIW, my notes from last Friday (after the close) state "would sell if this were not a biotech". I use TA to fine-tune the entry and exit points for stocks which I like fundamentally. I like CYPB, but its TA was screaming "sell me" late last week, and it hasn't improved since.
In short, I dunno <grin>
JSb. |
