Nov. 6 at 10:36 AM
$CYRX $SRPT I'm sorry but the move yesterday was insane and wrong for CYRX - meanwhile a (probably) big customer of theirs recovers huge on their own huge inappropriate selloff (SRPT). The stock was recently over
$10.70 and people or algos panic sold it or under
$9. Now earnings come out and they beat revenue, net income, and guidance. And it drops another 7.5% on low volume.
It should have rallied 15-25%.
What i think happened is that some retail stops got hit and algos goes into that and created an artificial pattern. Meanwhile the algos that were supposed to buy in based on the triple beat saw the chart and decided to wait for the slaughter to end.
Now you have some algos that are holding short for the next few days and some algos in reserve. One algo covered towards the end of the day.
All it took was maybe a few tens of thousand shares to get their stop losses hit for algos to ignore the earnings and create a chain reaction. This should be over
$11.
