Jun. 17 at 10:59 AM
$CVM Spent a few minutes this morning trying to figure how all of this is working.
It is clear that the market is no longer reacting to any PR put out by the company. Why should they? All the company does is repackage the same news, over and over.
But look at the trading in the current month. Staring in early June the price declined each day. Then they announce a 2.5M share offering over the past weekend. If you look at that offering, and compare it to the volume during the recent decline, the volume tracks really close. Look to me that someone was selling (short?) shares, and the company replaced them with the offering (cover?).
Now look back to the previous offering. Same pattern, just more shares involved.
As I said before, longs need to figure out who is getting these shares. Looks to me like a simple plan. Short the stock. Do an offering. Use those shares to cover. All the while, releasing useless new to keep interest alive. Repeat, repeat.
Where is the SEC?
