$HAIR - crushed on IPO. Watching for bounce trade towards 50MA.

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PP of 10M shares @ $1.50 closed with over-allotment of 1.5M shares. Insiders participated in offering. Company is trading at deep discount to $9 ipo price. Additional capital raised in the offering alleviates working capital concerns that auditor raised at IPO that tanked the price.

Stock trades thin. Looking at a short term swing towards the 50MA.
Trade closed: target reached: 10000 shares @ $1.62 sold at @2.48. Will continue to watch.
Trade active: Back in. Smaller position @ $2.20
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