RE:RE:RE:RE:RE:RE:Today's News Release Reminder, just a few days ago they presented at the JP Morgan " investment" event.
numberring In the hundreds of pharma , big & small.
As well as potential pharma investors.
so, they hear a story. Of what is to come. Then a few days later a decent news release.
Lots of informed eyes & ears.
The news created a multitude of events.
Prior to today, as of nasdaq, there were 2.6 million shares sold short.
in addition, the Nas is fully automated. Any standing buy or sell orders would be filled.
Saying all that 29 million shares , of which 28;were premarket, for a company that averages 1/10th of thst.
historically 1-2 million/ day for oncy iis a lot.
mutiple in/ out trades ? Could be. Short covering, strong possibility.
institutional buying ? also possible.
ATM selling into the market? Also possible.
New retail interest from the news & JP Morgan event..also possible.
The volume is very bizzar , nice choice of words.
gives us something to talk about.
My opinion, the volume is a combination of all the above.
premarket is a very strange & unpredictable world.
one other important point. The 29 million shares is 1/3 of the existing float.
meaning a lot of new people are on board. Or institutions.