$Biora Therapeutics (PROG.US)$ not surprised by that dip bec...
$Biora Therapeutics (PROG.US)$ not surprised by that dip because of the stigma attached to dilution (dilution doesn’t always necessarily mean it’s bad esp for a small cap biotech firm which needs cash for R&D). All I’ve gathered from that prospectus was that shares will be offered from time to time & not at once, $4.89 seems to be the targeted floor price & they see this shooting up with upcoming catalysts. Personally feel they are just looking to benefit from future higher prices, doesn’t make sense to me why they would offer in the future & not now if they don’t believe that prices will go up. just my 2 cents
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Wallace Lai : And $90mil if sold at post squeeze price, chances are the quantity will be less and the impact not be as high.. Let's also keep in mind of the value where the new CEO and the new directors get their share.. Our interest should be aligned after all.
player000 OP Wallace Lai : Yes higher value, lesser shares offered
Wallace Lai : The problem is we dont know if the sentiment can take this hit or not.. :/
player000 OP Wallace Lai : That cant be helped sadly, it’s all about an individuals conviction in progs potential at the end of the day
Wallace Lai player000 OP : Personal conviction is there, hoping the collective conviction is there also.. I am on the fence and wanna see what you think, do you think it will drop for these few days for me to scalp more quantity?
player000 OP Wallace Lai : Hmm looking at yesterday, it was encouraging that we shot back up to 4 after the brief dip & consolidated above it meaning there’s still strong support. Last weeks options expiration will take effect today so I’m expecting this to hover from 4.2-4.8 range. Would be great if we test 5 but there will be strong resistance. personally don’t see it going down below 4 today for sustained periods but I thought It would test 6 yesterday & it didn’t so my words as good as yours hahaha
Humpty player000 OP : counting on you to be right lol
player000 OP Humpty : Bro don’t do that haha no one knows for sure, this offering news will scare a lot of ppl.. you should have conviction in your plays.
Humpty player000 OP : i know what im doing, dont stressed lol. not following you but we happen to share the same path.
pennypincher : ya most people including myself just seen the offering price and amount and took it as just that without reading the proposal. in a way it is misleading and caused panic selling. the proposal states they can register for that offering not that they did. the company is just positioning themselves so they can also take advantage of this upcoming run up. nothing wrong with that just there delivery of the news that sucked. with the way filings work I'm not sure if there is another way to file it without it being misleading. they could of announced it at the meeting yesterday maybe
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