Post by
tamaracktop on Dec 16, 2022 10:33am
Only days now
There are only 3 trading days left after today until the company announces the closing of the financing, and most likely the undewriter's excercising of the over-allotment option.
Given the company's burn-rate in the most recent quarter, I would estimate the company will announce that it has approximately $26 million cash-in-hand.
Perhaps even more importantly, the company will then be free to announce any new business developments.
The market knows this.
this might explain the stock's relatively admirable strength during recent weak markets, and after a very big move.
A drop in volume during a sharp market downturn isn't a bad thing.
It indicates a dearth of eagre sellers.
Personally, I look for strong moves ahead.
Comment by
skupper on Dec 16, 2022 10:49am
Thanks TT. 3 trading days left after today until the company announces the closing of the financing, Perhaps even more importantly, the company will then be free to announce any new business developments.
Comment by
Yojurr on Dec 18, 2022 4:32pm
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