Hey mate, thanks for the response. I don't disagree with you on everyone being entitled to an opinion, but what I've observed is generally speaking only bullish ideas on this stock gain any support - nothing wrong with that however it does suggest potentially an over-attachment to the stock from an emotional perspective; not something you'd expect from people considering the chart and letting it tell the story.
Answering your question, consider this - The market discounts everything, in other words everything known to the market is priced in as of any given time which includes both past, and future events. Smart money had been buying the stock leading up to a nearly 300% increase this year, OBV indicator clearly shows they distributed leading up to the FDA approval. To now expect them to want to reload their bags at only a 20-30% discount from where they unloaded would be somewhat foolish when they could easily redistribute on retailers believing exactly what you've suggested before pushing the price lower to reaccumulate leading up to the 'certain approval' mid-2024.
None of this is to come across as disrespectful to your thinking, I say this all realising it's possible I'm wrong however when you look what the price did since Jan this year I just can't see smart money wanting to only make a 30% profit leading up to mid-2024.
Happy to revisit this idea, not in the short term but potentially at the beginning of next year and see what's occurred since now!
BOT Price at posting:
13.5¢ Sentiment: None Disclosure: Not Held
(20min delay)