Whilst I am not confident this will actually be the final raise before the readout (the track record is pretty terrible), I will be a buyer as I really like what they have, and the TAM for AMD is absolutely enormous. I won't be in a rush however, past raises from OPT (and other stocks in similar situations) indicate that patience is rewarded. This is fairly intuitive as well, as OPT is certainly at the point where emotions > logic when it comes to short term share price returns (so fundamentals will likely take the back seat over the next few months). This will be another kick in the face to shareholders, and it is very likely (and understandable) that some will not be able to deal with the prospect of another year of waiting, with no idea whether the company will sneak in an extra raise for good measure.
When they raised last August, the price quickly fell to the raise price, naturally. However, over the following weeks it continued to move downward. Given the fact that the readout is still fairly far away, I don't see much of a reason for a different outcome. More investors give up on the dream after another raise and move on. Like in August, I will be looking for a nice base (several weeks at least) to take shape before backing up the truck. This will be the sign that the investors who no longer have the energy to continue holding have been flushed out, and the share price is simply waiting for the next catalyst. It is clear the market is no longer thinking about the fundamentals here, so in such a situation looking at the chart can help (I would never go so far as to attempt to trade the fluctuations based on the chart though, as I don't think that is a viable strategy in the long term). Might be wrong, but I already have a decent position so I am happy to miss out if we don't get another pretty base well below the cap raise price to accumulate from.
OPT Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
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