RE: Strange day!!!
I think today is a very positive development. Its common knowledge from PLI's PR people that Pierre and co have been travelling extensively for the last month promoting Prometic in an effort to raise this cash. The truth is, they had TANGIBLE results to promote for the first time ever in the history of this company as well as many signficant imminent positive catalysts. This is exactly what institutions want.....
My take on all of this is that this latest financing has rekindled institutional interest in this story... and MOST importantly, its abundantly clear from recent trading that the demand far outweighed the shares available...
This is without question a turnaround in the fortunes of this company... In the short term, I think we will continue to see institutions acquiring positions in the open market.... these are positions that they had hoped to get in this recent financing... This is an absolutely great development.... and something we havent seen in this stock since the $2.50 -$3 days