RE: Cup and handle forming?16 Nov 2023 12:55
None of us can say for sure what will happen but same as MrI, I dont believe for a second it will remain down here.
Too many eyes on this stock, and we all know clinical is a big deal, there just are no clinical pharma in CAR-T trials sitting down here (UNLESS THEY HAVE HUGE DEBT ISSUES OR FAILED).
Fact is traders and investors dont want to wait until the RNS drops to invest, they want to buy before and often sell on news. Pumpkin and simon were open about their intention to buy in before IND lands, thats fine, there are many more like that, but I dont see anyone saying "Gee I want to sell BEFORE this goes clinical". So unless some whale holding 10s of millions has some crisis and is forced to sell we are going to see more demand than supply in the coming weeks. So yea IMO it will continue to rise because I just dont see a case for failure right now, that risk comes when trials start, but now?
To avoid coming across as blinkered YES I have considered risk of placing etc before Stu chimes in, that is probably why we still have shorts, people hoping for a placing. I will not dismiss this as unlikely, contrary I believe if Hemo does well enough Vlad will do a placing, HOWEVER I do not believe it will be < 6p. This does not worry me, raising cash at a higher price going into expensive trials is the correct move, however only 20% is authorised so to raise the sort of capital required will need him to obtain 6p or better. I think it happens after IND approval but if the SP goes through the roof beforehand? Then no issue with him raising then. People need to accept that a future placing at a much higher SP to fund the next stage of growth is a GOOD thing.
But back to your question, no, there will be ups and downs, but in the coming weeks I am convinced we will be considerably higher. There are too many old faces starting to show an interest, too many shorts that NEED to close before IND and enough clarity to attract new investors.