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Msg  27797 of 28050  at  7/28/2021 6:43:02 PM  by

tomn


 In response to msg 27796 by  indyengineer
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Re: Note to Pacific and anyone interested in INFI

 Hi Indy. As I have posted here and on Yahoo finance "conversation" (under the name Thomas) not sure what caused this massive shakeup for 2 days. The price yesterday seemed to be locked in between 60-70 cents down, even in premarket. This could have been manipulation by, for example, someone and their minions who might have been interested in a take over of INFI. The stock had a rapid run up about 6 months ago in relation to the first positive news on these study results that was very promising but very premature. I suspected that Reddit users may have temporarily jumped on board as there was a lot of volume and rapid price gain over a short time, where the stock moved within a month or so from under $1 to almost $6. From there, the stock had a slow decline to about 4 or so. This decline was associated by in increase in short postition over a few months from about 1 million shares short to about 5 million short. The past month, the selling has been steady and not particularly high on volume. What happened yesterday was almost out of the Twilight Zone. 11 million shares and yet almost no price change after the opening down about 65 cents. I think what happened today is that day traders and possibly Reddit users were back. The volume was insane, about 2 X the outstanding shares of 88 million. I think people saw and digested the value of the study results. Look at Pacific's post today for a good summary of results. There were a number of upgrades and increases in price target, one by Wells Fargo to outperform (I think) and price target of $14. I think the stock is undervalued based on likelihood that the drug will eventually get FDA approval. I might not sell any until the stock doubles or triples from here when I might sell a little to cover costs. Good luck.


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Msg # Subject Author Recs Date Posted
27798 Re: Note to Pacific and anyone interested in INFI indyengineer 0 7/29/2021 3:02:39 AM


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