I have been watching the course of sales detail over the past couple of days.
Out of 3000 trades yesterday (1.6m shares. The highest volume in a month), 550 were less than 100 shares ($180) and 570 were marked as CXXT. The trend was similar on Thursday.
This is not being propelled by marinating fallopian tubes or staff exit although they may be happening in tandem. Dropping a CEO and Clinical Director in a month isn't exactly awe inspiring.
IMHO an insto or more are rebalancing their portfolios prior to the end of year. If you look back several were buying in the $2.50 range and are sitting on paper losses.
There's been no change to guidance since Feb but I think we'll revisit year lows in the $1.60 before the end of June as well as one or more Change of Substantial Holder Forms 604 before then.
But in the end, who really knows.
MVF Price at posting:
$1.72 Sentiment: Hold Disclosure: Held
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