RE: RNS!16 Jan 2024 09:37
Here is the thing Micky, historically with hemo the big rises have come a day or so AFTER or before an RNS. As you rightly point out shorters attack on the rise as they did this morning, the short position increased to 5%. HOWEVER its still there, so thats an increased short position, the SP is now flat again and the shorters HAVE to close, there is zero chance they wait for IND approval, they are not that stupid, so that is built in guaranteed buys and enough to move the SP up when they close.
So what else? We clearly had a few sells of some people waiting for IND submission, they know about IND and will know FDA response is PROBABLY 14 days+ away, so have they sold to never come back? Or is it a short trade for them hoping to buy back in before FDA approval? Who knows
Finally you have now an official RNS that starts a clock and will attract new buyers, will they sell before IND approval? Unlikely.
All in all, IMO blue skys ahead and those who sold/shorted this morning will regret making that decision.