Few ThoughtsIt's been a while since I posted, it has been a wild ride to put it mildly even by my standards.
I did state that IMV can still hit 10US this year when some have called me out here in Feb/March at $1.5US, still I missed the target by 50 cents as we only got to 9.5US on Tuesday, so not quite there...
I loaded up the truck to full prior to this run up, but started to loose my patience with the lack of updates from Ors and Co. in the last month and a half. I have send a few "encouraging" letters to mngmt., last one on Monday, so maybe that's what got the ball rolling:)
Having switched to US holdings to take advantage of pre market and liquidity I managed to unload my 200K pre market and into the open. My mouse was not charged, so I was late by 15min, which happened to be a one dollar move, or 200K in profits.
My point, things move fast these days so you better be ready.
The pattern that ensued is the same as May pattern. Pre market strong up swing, followed by a massive shorting through the day.
IMV traded over 50M. This means the entire share structure got turned over. Absolutely crazy. It also means there are many naked/illegal shorts out there as large portion of this company is privately held and not available for borrow.
In any case, I am looking forward to the next Nasdaq short report to see where we stand, as I have a feeling if IMV delivers on some of these milestones, there will be a nice short covering rally to follow.
So where do we stand here? In the past the stock would drift lower on low vol, but given the other day, I doubt that will happen again. For better or worse IMV has served notice that it's here to play.
We bottomed at $4 at which point I started to load up again and have been buying steadily into todays strong tape having reaccumulated around half my position. I will add as the tape gets stronger.
I thought the press release the other day was a nothing burger. It felt like a restated rehash of the old news. However, the market clearly liked the implied message as it took the stock to crazy levels. I have a feeling next true deliverables will create even more powerful move upwards. 60M shares or roughly 300M US traded in a day sure says so.
We could argue about the science here, but IMV tech is solid, period.
It works in cancer, works on RSV and it will work here. Moderna's results were solid from phase 1, but tons of nasty side effects. We know IMV DPX has minimal toxicity. As such as long as they stay on schedule we are in a very good shape.
Next few months should shape this year one way or the other. Strap in for a fun ride.