Jan. 30 at 1:50 AM
$CRDF The CEO/CFO change had to happen now to pivot the company toward M&A. The data release served as a buffer for investors (albeit limited) and, more importantly, as an advertisement to potential acquirers - the conversation had to start somewhere. A
$1+ drop feels dramatic, but in biotech that same stock can jump
$5 on a single deal rumor. Biotechs in the midst of being sold aren't ones to hold short over the weekend, especially when the technicals have an RSI below 28.