I sold out at 100 and I'm on the sidelines watching for reentry right now.
From one of the articles linked:
"Cassava currently has less than 1 million warrants in the market that expire on February 17th. The fact that there are warrants in the market seems to have let short sellers hammer the stock by having cover to disobey the uptick rule."
I'm wondering if it continues to drift downward as these warrants are exercised. What I found separately online is that these warrants exercise at a price of $1.25 per share.
I've said before that if the results of this Phase 2 study are borne out by larger studies, this drug is going to be massive. So I'm poised to buy a lot once I feel like the selling is done from those warrants / short sellers and it has faded from mainstream consciousness. I'd imagine it's one of those that will run silent for quite awhile then roar on the next positive news.
Class of 1998;
Husband of an Aggie, Class of 1999;
Father to future Class of 2029 and 2031
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