RE: Why sell when bought deal at $3.50If you bought at the low of around $0.50 you would be far in the money so why not cash out?
A bought deal at $3.50 indicates that management and the underwriters are confident that the stock will go higher, but there are no guarantees in this business. I wish I would have bought at the low point but no such luck :( Anyway, some prescient or lucky people did and they are simply locking in profits.