RE:One news release away, What happened to your guarantee of $3.00+ post Apple? Remember that?
Bear market rallies do happen.
You can differentiate between a Real vs. Bear market rally not by price, but by volume.
The issue is that this is a very low volume rally and it has lost steam right at a key support level. And RSI had an intraday peak near 70.
The other thing about bear markets rally is they are Sharp and then people don't sell because they fear missing out. When in fact, they should be raising cash.
The key news release is the next quarter results which will show essentially 0 WiLan revenue and YoY decline in ITS revenues and further ITS margin compression. Analysts will bring out the hatchet to price targets and buys will turn to holds (like Cannacord already did)
Lastly, the irony of all of this is that with the stock above $2.00 it takes away the possibility of any NCIB. They need to keep that tool and cash available for when the stock falls below $1.50. They don't want the stock to get below $1.00 and fight the TSX delisting game.
This is a gift in a low volume rally. For those that want to sell now and double their number of shares should do so.