Re: Secondary priced at $14.50
Great post Uli. I’ve never been an insider, but I’ve always assumed that the institutional investors that are buying the offering know about it in advance and know what they are willing to pay. If they know that they can get shares tomorrow at 14.50, it would be logical to short or sell today at $20. These crazy stock price moves keep me in biotech microcaps and nanocaps. I’ve enjoyed many nice round trips in OMER. I was on the sidelines for the trip to $20 this time (due to OMER’s cash position). There are many like me that simply won’t hold a significant position in an equity with less than 12 months cash (I could list the ticker symbols of some my historic big losers but it would bring back bad memories for many of you). We’ll all be coming back into OMER over the next few days. I’ll start building my position back slowly. Few shares will be bought at the bottom, but my dollar cost avg will be fine as I purchase on the way down and back up.