What most everyone is forgetting is the some of this may have been know as far back as June. No run-up like last time? Well, if someone had the information about the inspections, why buy? Just wait for the drop and start buying after the information becomes public. Looking at the volume, and not paying attention to the two days when it ran to $8 then dropped on the news release, the volume has been higher than normal. I think those were he people who knew what was coming and were just waiting for the drop.
But if this gets a Class 1 (and it is announced), the opposite will be true. The timeline will be much shorter, and not as defined. A new investor will have to consider the fact that the FDA could approve anytime in that 60 day window. So we could see a rush to get in.
In fact, I had orders in to sell 1/2 my shares before the news was released and the CC was held. We had a pretty defined timeline. We ran to $8, and given a couple more weeks, we likely would have been much higher. I think my sell orders would have executed with a few days of that $8 print, if nothing had changed. Today? I think we would be around $12 if the ER/CC had just been- STANDING BY FOR THE FDA DECISION.
As it is, we dropped. And seem to be recovering.