VIX and BioS&P is always looking for big winners to be a 500 company....keeps markets moving positive. Sure not coming much from awaited Lyft and Uber are not even close to those prior startups becoming listed companies like MSFT, Google Facebook etc. UBER in filings announces it has lost $3 billion last year. Lyft looked in trouble coming on board exchange losing $600 million. Initial investors must hardly wait for exchange listings so they can get out of these companies. Global cab companies sick looking at Uber $11.4 million revenue.
TVIX and UVXY Trade is on horizon for now as Brexit date backed off and China US making decent headway. Not much stress in US markets and the witch hunt ended so maybe a better focus on economy prevails. However IMF stated Euro zone economies in a difficult pivot position being my thought on reads of the information. For sure Germany in down trend on GDP.
Good reason to see decent Tvix and Uvxy bounces May to June prior to next Fed meetings.
BIO: wanted to bring again how financing announcements are very important in Bio tech as most are desperate financings to see Bio company continue to advance its product pipeline. Single and niche products company objectives outside of major disease problems are a tough road on strong growth.
Here is two very recent financing showing opposites in product objectives or management strength to succeed financially working off success path.
Evofem Biosciences, Inc. (NASDAQ: EVFM) shares closed up 15% to $4.09 on news of a securities purchase agreement where it will raise up to $80m through a private placement of common stock from new and existing investors, including an investment from PDL BioPharma, Inc. (NASDAQ: PDLI). Evofem issued 6,666,667 shares of common stock to PDL at a per share price of $4.50, a premium of 26.4% compared to Wednesday's closing price, with warrants attached to purchase up to 1,666,667 shares.
X4 Pharmaceuticals, Inc. (Nasdaq: XFOR) announced it has commenced an underwritten public offering of shares of its common stock and associated warrants. Shares are trading down 27% after hours to $11.04.
not as bad as Pulm, Zsan, BIOC but still a drop is not a fun position to be in so know financial cash burn rate and prior 2 Qtr s of corporate financial position.
Glta Cheers Manx