This clearly hasn't worked out as a day trade for those caught on the spike. It will probably come good even for those who bought above 70p but you need to be prepared to hold long term to see it recover. In the meantime, it may go lower (possibly much lower), so you need to decide what's best for you. If you need the money short term, you may decide to take the hit now. If you don't need it soon, and you don't fret over the performance of the share every single day, you may decide to stay put. It all depends on your individual circumstances.
BTW, if you do fret over your shares all the time or you stretch your financial resources to invest more than you can really afford, you should consider this. I know that a lot of people lose their nerve when it comes to investing, and start jumping on such shares as a quick way to make money, without considering the associated risks. Often, this is done to recoup losses from a previous similar trade gone wrong. This is one of the signs of an addiction to trading; have a look at this to check that you aren't in that position or at risk of getting there:
(Google 'addicted to trading investopedia' if the link is removed.)
If you've spotted any of these signs (and you must be absolutely honest with yourself!), stop immediately, even if it means taking a loss, and talk openly to someone (your partner, etc.) because it is extremely difficult to get out of it on your own without falling back in. Do it even if you feel ashamed to talk about it.
I know it doesn't apply to everyone here, so those of you who are not affected by such issues please don't take offense at my post: it is not meant to sound pompous and patronising; it is meant to help those who are in trouble. If it helps at least one person, I'll be very happy indeed.
The MM's are short of shares, so they whack a big spread to put buyers off. However, just as earlier at 55p, they won't find sellers and will have to close the gap and move the bid up. Next leg up awaits.
The buying pressure should increase. There's enough interest at 60p but the bid is kept too low to enable a steady supply of shares to move the SP up. Once the bid jumps, the ask will follow and we'll motor nicely towards a new high.
Patience, dear Watson. Good things will come to those who don't overreact. Day traders looking for a quick gain were likely caught on the early morning spike yesterday, and some of them have decided to take the hit now and chase another fast riser today.
The Astra Zeneca deal is fantastic and, if I understand correctly, the company cannot be taken over by the majority shareholder at anything less than yesterday's closing price (since it's the 12-month high). Plenty of upside but it's a ride for people with balls/ovaries of steel!
For the moment, a lot of churn at these levels. The longer it lasts, the stronger the support line drawn here. The company is definitely on the up, so we should see some positive movement of the SP. Spikes of +200% are perhaps less likely, unless we get another stonking RNS like the one yesterday.
Free float is less than 16m shares here. A quarter of that already traded today at an average price of 64.5p. This will provide a strong support for further rises this week. I doubt those buying today will want to part with their golden tickets for a paltry 10%, so they won't be selling today or tomorrow, leading to a further squeeze and providing great upward pressure.
Rome wasn't built in a day;, neither will REDX: it'll take at least another couple of days to show its true potential. :-)
I can see this getting to about two pounds this year, which would be a three-bagger for you! The long term payments from AZN (excluding royalties!) would still be more than the market cap at that level.
The beauty of this one is that it does not depend on the Covid pandemic to make money, as opposed to many other pharma companies betting on getting THE cure or vaccine to the market before everyone else. Which eases somewhat ethical considerations when making an investment (for those who have such thoughts; I appreciate that a lot of investors are ready to invest in arms, dirty energy and so on, as long as money is to be made).
It looks like the company had sufficient 'financial runway' with that loan until Q3 of FY2021. The 17m expected from Astra Zeneca in the near term should shore up the finances considerably, so a lot of upside here. The short-term test of 110p is in order. What's not to like?
I'm even so slightly jealous of those lucky b***ards who managed to buy below 15p recently!