Aug. 11 at 1:05 AM
$CYCN
Been doing some digging on this one and I think it's pretty interesting.
They have a pending merger with Korsana that's still expected to close sometime in Q3, along with a ~
$380M private financing expected to close right before the merger.
But what really caught my attention is how small CYCN is. Only around 4.3M shares outstanding w/ roughly 2.5-2.8M float, and it's still holding around the mid-3s
Not calling this an alert right now, just sharing some of the research I've been doing.
$3.75/
$4 is what I'd want to see it start clearing, but I don't look at that as the upside if the actual merger catalyst hits. With a float this small, if the closing news brings real volume, I think this could go a lot higher. We already saw what happened when the original merger news dropped back in April and it traded above
$8.
Just worth keeping on your radar while we get deeper into Q3
