The shares have already had a pretty hard run - tripling from about 40c to $1.20 on no news at all and then dropping back to roughly double 40c - again on no news at all. It amuses me that the price is so all over the place - where were the buyers when the shares were 40c and what makes people buy now at 90c considering nothing at all has changed at the company except that an announcement is closer.
I think the shares will keep dropping as people review the MBP announcements and realise that nothing has really changed and there is a very good chance this Phase 2B will find the same result as the first Phase 2B(not significant weight loss).
Also as I said in a previous post there will be short sellers wanting to be short MBP on the announcement day who will get in as late as possible so as to be shorting based purely on their expectation of a bad Phase 2B result.
Ed
MBP Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
