Jul. 14 at 4:07 PM
$CDTX Even with the recent offering, the actual free float is likely quite tiny compared to overall shares outstanding. A big slice of the company is owned by institutional investors, some of whom have been doubling down (not selling). There is is also a big chunk in preferreds and RSUs. Then we have the stampede of short sellors selling the few available shares they could find hoping to fade the phase 2b/offering news... Makes for a pretty volatile setup! I'm happy to be long and long-term!