In Germany we´re all extremely disappointed. Imho the bot-manipulation is so obvious and massive... Nearly ALL other small biotechs that are connected to H1N1 have doubled sp in the last days, whether they had strong company-news or not...
If Biocryst is at $12, we should be AT LEAST have the same level...
Anyway, we have taken a lot of action in Germany ind the last weeks and I also have sent a final email to Damian Lismore/CFO Biota a couple of minutes ago.
See below, for your interest. I doubt that he´ll take some action, but who knows...
Best regards from Germany
Eric _____________________________ Dear Mr Lismore,
thanks for your mail dt. 17/8/09 re. Biota Stock Manipulation in which you confirmed that you will follow up and see if anything transpires.
Unfortunately I haven´t heard from you yet, but I wanted to give you a short update on the suspective trading-activities on the ASX:
Since my email dt. 16/8/09 these activities became even stronger, so that in my mind - and in the opinion of many Biota-shareholders worldwide - the stock is now completely controlled by bots with their constant buying and selling strategy in small parcels. Day by day the share-price is kept artificially low by bots buying minimum parcels of shares at market and then topping up - and then doing it all over again and again and again.
In the last 10 days we have seen a massive rise of the shareprice of nearly ALL small biotech-companys that are involved in H1N1-topic. Nearly ALL of them have doubled or tripled their shareprice, most of them listed on Nasdaq - whether they had great news/results or not ! Nearly none of them had news comparable to Biota (Lani, Relenza triple production, 20 Million $ cashback etc.).
As shareholders, we have no guarantee or right for rising shareprices - but we have a right of a a fair and transparent market and that our complaints are taken serious and are investigated with care.
In the opinion of a large amount of your shareholders it is obvious that the shareprice of your company is manipulated massively.
I have NEVER seen a stock with so many tiny trades like Biota.
On the few days when the stock is rising you don´t see these activities or only in a much smaller amount ! I think this should speak for itself !
I can assure you that many shareholders are about to loose faith in your company or have already done so. If you have some time, you should have a look at the several online discussion-forums about Biota.
If people think that Biota-shareholders have only risks and no fair chance to participate, I don´t think this is in the interest of your company.
But in the end it´s up to you whether you want to take some immediate serious action against these trading activities or not.
Kind regards
BTA Price at posting:
$2.04 Sentiment: Hold Disclosure: Held
