Bought deal RAISES questions. Why now?Stock has plunged from +/- $ 3.80 to $ 2.48 today, a big drop.
One insider sold +/- 30% of their holdings at $ 3
Market place published an article PROMOTING the company while a bought deal of $ 20 million is being done.
I do not like what I see.
So some hard questions.
- why raise money now if results are going to be great? Seems to be counter productive.
- why does insider sell 33% of their holdings if results are going to be great?
- anytime I see PROMOTION with bought deals, it is never a good sign....it gives me the impression of sales pitching someone as to how great they are and to give them money.
I do not have a position and will wait for trial results. If results are great, it will not matter at what price you buy cause it will only go higher the next day.
However if results are bad, then it is penny status for good.
For me, it is not worth the risk.
My personal opinion,
Good Luck,