I have the same observation... No one can guess this so confussing transaction and I feel sorry for Biota shareholders. No doubts there is opportunity exist for arbitrage from all these smoke and mirrors conditions.
It appears some arbitrage is at play by Mangrove may be, covering their AXS short selling position ?
You may see Nabi shares to dripping back to the low $1 USD next week. For the 6 to 1 reverse split of Nabi... Biota Inc may be listed above $6 USD on the NASDAQ. Hope I am right for you guys sake including my friends... Good luck
BTA Price at posting:
57.0¢ Sentiment: None Disclosure: Not Held
