Microbix Biosystems Inc. T.MBX

House BMO Nesbitt Burns has dump 413,000 shares today alone

[rjc7]

They have been dumping for the past week all at the BID price!

[tasman99]

that makes me nervous

[rjc7]

I wouldn't be too nervous. Its one investor who's had enough. They keep adding product which only builds to the intrinsic value and they have a strong balance sheet. The entire market sucks. We will one day leave this depression behind.  The market will wake up to realize our way-under valued share price.  

[wizzdumb]

Agreed. I hope Kinlytic approval comes in tomorrow and it pops, that would definitely happen if it were me selling lol. 

[rjc7]

Do we know when the FDA gives their approval?

[wizzdumb]

By November 14th was what was mentioned in the last webinar, although not "officially". 

[tasman99]

EXCELENT QUESTION   ANY FDA UPDATE WOULD BE APRCIATED

[wizzdumb]

Material news, you will hear about it via press release, don't worry. 

[prophetoffactz]

The founder passed away in early September and he had 5.4 million shares last reported in 2020. That could be weighing on the stock. There could be a liquidation of his holdings. Over 600,000 shares in the last two days have traded. There's also the possibility of tax loss selling.

[wizzdumb]

There would be no reason for them to tank the stock price by liquidating on the public market when they hold so many shares, especially considering how low volume this is. Assuming they even wish to sell, there are ways to do this in an orderly fashion over time which I'm certain they would be aware of. 

[Method]

I used to work on an institutional trading desk and you can't expect anyone to trade rationally. This might be a tiny position in a decent sized small cap fund that's getting shut down. They will hit bids until the liquidity shows up. I'm buying ~25-50k every penny down because I have no idea how much is left.