The stock closed strong and then a Seeking Alpha article overnight helped it gap up to 1.95 before it faded. Some takeaways from the trade.
- Management have recently been buyers;
- Chart was beat and the stock has a history of running; and
- because of the above reasons, I had to be more careful to assume the news was 'fluff'. Follows on twitter are normally right, but not this time. The news was alright it arguably increases the chances of approval in the US this year.
The real trade was on the crappy seeking alpha article.
Open Trades Short
VRML, MBLTY, GTIM, HUSA
Open Trades Long
CHTP, UNIS, CLDX, HZNP, ALXA, SVVC
April Returns, -3.5%