RE: Unknown Sells10 Jun 2020 10:22
Nolupus, this is my simplified take on it, please tell me if you think I'm way off the mark.
Interest in synairgen grew as covid became front and centre of the news. Out of nowhere this tiny biotech hit the headlines as a possible frontrunner in the fight to battle a global pandemic that had ground the entire world to a standstill. With the COPD in the background this gave greater support for the rise. In this period the share price soared from about 6p to 70p.
At this point it became clear that there was not going to be news for sometime, maybe 6 weeks, maybe a bit more. At 70p the share price was at the sort of level you'd expect for the risk/reward of this share pre results. Some on here argued that we should see it rise to a bit closer to £1 but no more than that . As interest has waned there just aren't the buyers to match the sellers.
I expected the share price to be around 80p right before the results. That is certainly looking unlikely now but sudden back to back rises that push it somewhere close are not out of the question still.