But for now the prevailing market direction is completely de-coupled from the prevailing company direction and the company results being published. As you said, there are day traders, and shorts .... 5% of all shares, that will be on here and the NASDAQ, every day, performing in hours and after hours, and pre open trades to try and manipulate the price, and it works. Just look at the after hour MESO trades from the last few days, $1 USD increase in share price, for 15,000 shares worth, only for 1 single share to trade $1 less as the final trade. Explain why that occurs, and what it means.
That will not stop because of a BLA acceptance in my opinion, even if we have a run, like the run to $1.20 recently, we can easily slide back towards the current 90 cent level which seems to be some kind of support level. There are also shorts, I presume that have taken out short positions, but still hold shares, which they can sell to further push the price down. ( That is what I would do ).
Until we get to the point where they need to exit, and that extreme risk isn't for a few months ( PDUFA date ), then they can try and push it down and make money.
The plus side for holders, is that the share has almost never been so cheap and as you say it is valued for no level of success whatsoever, yet it may have an approved product in 4 months time, and be on sale in Q3, fully self funding. with over $20,000,000 in inventory on shelves.
So.... Depending on the media coverage from outlets, from the " FDA Acceptance" level of misunderstanding from the general public, they may well buy in and push the price up, shorts will try and push it down, traders will try and push it up.... but that did not happen last time. But it may well happen, there could be people holding back a purchase decision, waiting for that level of safety of reaching a guarantee'd PDUFA date.
What I do think, as we approach the PDUFA date, there will be an exodus of at least the "new" short positions that opened around the $1 - $1.20 mark, which will push the price up, combined with punters jumping in the hope the approval comes and overnight they see a 300 - 400% profit +. This is a gamble, but not many companies have gambles that mean a 300 - 400% rerate overnight, and if your performance is 10% per year, it takes decades to achieve 300 - 400% increase, or overnight following an approval in my opinion.
So, I think it will go up leading to PDUFA, but following BLA acceptance - which according to my research is not a big deal, and is not likely to be rejected.... ....... no idea.... what will the weather be on that day.
Rain or sunshine? Nobody knows.
The above is my opinion only, not factual or to be considered as financial advice, simply a guess.
Like my guess where I said price low will drop below 90 cents..... but I'm wrong about that stuff...Look at what the low has been lately. Love to be wrong !
MSB Price at posting:
93.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
