Buenos dias,
This stock is crazy and I won't get into the details except at high level: The stock has, until recently, only had ~6.5m issued shares. Some dingus (or genius) cashed in their warrants for ~130m new shares, which sent the trade volume into a craze the past few days. Yesterday GCTK was the most traded stock and the most shorted stock on NASDAQ. Today the market cap of the company based on issued shares is approximately $ 20m. We do not know if the original owner of the warrants cashed out, is holding, or plans to cash out, although they received an outsized portion of shares for their warrants and could dump on the market, although I suspect the massive volume is related to their offloading of shares.
Take a look at the larger chart - it has been dump city for years. So goes the life of a R&D company with no products. The company, however, has developed a novel diabetic monitor that is implantable, lasts 2-3 years, and gives real-time accurate data. This is an order of magnitude more efficient and capable than the best version of implantable devices today. The predict $ 1B in revenue early on after product launch.
Today, they are presenting their latest trial data, presumably from their human subjects, at a major biotech conference at 12:30pm Eastern. This will be their first human-based data release.
Taking a look at the past few days on the chart, despite a flood of new shares and despite a flood of shorting, the price has effectively triple bottomed at $0.11 and has withstood the great flood.
I suspect that this is a new floor, and we will see a period of upward price movement, likely preceded by a large spike today due to speculators. I believe shorters are massively offside here, and there is opportunity to make a significant gain today and potentially over the next few years. Once they go to launch their product, it will be too late for speculators to make massive ROIs.
This stock is crazy and I won't get into the details except at high level: The stock has, until recently, only had ~6.5m issued shares. Some dingus (or genius) cashed in their warrants for ~130m new shares, which sent the trade volume into a craze the past few days. Yesterday GCTK was the most traded stock and the most shorted stock on NASDAQ. Today the market cap of the company based on issued shares is approximately $ 20m. We do not know if the original owner of the warrants cashed out, is holding, or plans to cash out, although they received an outsized portion of shares for their warrants and could dump on the market, although I suspect the massive volume is related to their offloading of shares.
Take a look at the larger chart - it has been dump city for years. So goes the life of a R&D company with no products. The company, however, has developed a novel diabetic monitor that is implantable, lasts 2-3 years, and gives real-time accurate data. This is an order of magnitude more efficient and capable than the best version of implantable devices today. The predict $ 1B in revenue early on after product launch.
Today, they are presenting their latest trial data, presumably from their human subjects, at a major biotech conference at 12:30pm Eastern. This will be their first human-based data release.
Taking a look at the past few days on the chart, despite a flood of new shares and despite a flood of shorting, the price has effectively triple bottomed at $0.11 and has withstood the great flood.
I suspect that this is a new floor, and we will see a period of upward price movement, likely preceded by a large spike today due to speculators. I believe shorters are massively offside here, and there is opportunity to make a significant gain today and potentially over the next few years. Once they go to launch their product, it will be too late for speculators to make massive ROIs.
Note
Hang tightTrade active
Well when you have massive institutional money shorting the living f*ck out of the stock, I guess you can't win.Trade closed: target reached
OH MYLANTANote
Think this is still a good play. Human trial results should be announced this week. Not sure how high it could go, but I am hoping it will break up above 0.3Note
If you look on the daily you'll see candles are consistently closing below 0.1 - I believe this is due to bears attempting to trigger NASDAQ's 10-cent rule where the stock automatically faces a delisting hearing after trading below 0.1 for ten consecutive days. Such an announcement would set up shorts for another fall in price, potentially. If this stock closes above 0.1, that resets the clock. I think there is enough interest here to get back above 10 cents consistently.Note
f-it, I'm out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.