March 4, 2021 7:51am
I post about “indication intelligence” devoting my time to collection and analysis of information to identify sector vulnerabilities and strengths
Pre-open indications: 2 BUYs and 4 SELLs
Companies mentioned: AGTC, BSTG, GBT, MDXG, SAGE, SLDB
RMi’s daily report may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
Dow futures are DOWN -0.14% (-45 points), S&P futures are DOWN -0.26% (-10 points) and NASDAQ futures are DOWN -0.26% (-34 points)
U.S. stock index futures were lower early Thursday,
European markets were down with the pan-European Stoxx 600 shed 1% by late morning,
Asia-Pacific markets were also down with the MSCI’s index of Asia-Pacific shares outside Japan dropping -1.9%.
Data Docket: first-time jobless claims data for the week ending Feb. 27 is released. Economists surveyed are forecasting 750,000 first-time filers.
Henry’omics:
U.S. stock futures also pointed to further losses at Thursday’s market open …
The Wednesday weakness came as the 10-year Treasury yield extended gains climbing to a high of 1.49% before retreating.
While stocks also extended losses from a day earlier as investors weighed optimism over widespread post-pandemic business re-openings against concerns over economic overheating.
Coming attractions: earnings’ release, Today – Cellectis SA (CLLS), Monday, 3/8 – MiMedx (MDXG)
Wednesday’s evening’s recap: “headwinds facilitate overheated share pricing weakness. On the positive, lower valuations underline the prospects of a coming upside.” … https://www.regmedinvestors.com/articles/11795
- The Nasdaq closed DOWN -361.03 points (-2.70%);
- The IBB closed down -3.58% and XBI closed down -4.71%
- Sector volume was LOW with 1 of the 3-upside having higher than the 3-month average volume with the volume of 5 of 30-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +2.57 points or +10.86% at 26.67;
- Wednesday’s percentage (%) of the 3-upside were +1.08% (MDXG) to +3.90% (RENE.L) while the 30-downside ranges from -0.17% (KDNY) to -10.46% (RARE);
March: 1 positive, 2 negative closes
February: 9 positive, 10 negative closes and 1 holiday
January: 10 positive, 9 negative closes and 1 holiday
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining Sell: Questions continue …
Biostage (BSTG) closed flat to $1.63 with 32 shares traded after Tuesday’s -$0.01 to $1.63 with 275 shares traded, Monday’s -$0.01 to $1.64 with 1,838 shares traded, Friday’s -$0.15 to $1.65 with 959 shares traded and last Thursday’s -$0.00 to $1.80 with 3310 shares traded.
Question#1: WHO is the finance officer for this public company as Q4 and FY20 audit and reporting is coming DUE?
Question#2: WHY the attrition rate of the past five (5) years: two (2) CEOs, one (1) CMO who became president, two (2) CFOs, one (1) interim CFO who walked-out over irregularities in an audit review, three (3) controllers, a VP of Finance who left without notice and reappeared as a consultant, five (5) members of the board of directors of which four (4) were on the audit committee, three (3) other operating VPs and twenty (20) scientific employees.
Question#3: WHAT will RSM US LLP, BSTG’s audit firm NOW do as there is NO accounting/finance “official”– don’t they have a FIDUCIARY responsibility to report to the SEC after all these financial/accounting employment terminations in the past years?
MINORITY shareholders are watching and weighting responses to MAINTAIN their RIGHTS.
BUY:
Sage Therapeutics (SAGE) closed down -$7.97 to $76.17 after Tuesday’s -$3.14 to $84.14, Monday’s $87.28, Friday’s $85.00 and last Thursday’s $83.45 with a positive +$0.82 or +1.08% aftermarket indication
Solid Biosciences (SLDB) closed down -$0.83 to $9.89 after Tuesday’s $10.72 and Monday’s $8.52 with a positive +$0.51 or +5.16% pre-market indication.
Falling Knife:
Applied Genetic Technologies (AGTC) closed down -$0.39 to $5.42 after Wednesday’s $5.81, Tuesday’s $5.51 and Monday’s $5.08 with a negative -$0.12 or -2.21% pre-market indication’
Global Blood Therapeutics (GBT) closed down -$1.71 to $42.32 after Tuesday’s $44.03 and Monday’s $44.48 with a negative -$1.84 or -4.35%.
Maintaining Sell into Strength:
MiMedx (MDXG) closed up +$0.12 to $11.28 after Tuesday’s +$0.49 to $11.16, Monday’s +$0.76 to $10.67 and Friday’s $9.91 with a negative -$0.81 or -7.18% pre-market indication.
The BOTTOM LINE: I STILL am a “beware Man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim … if one can!”
Also, adding to the optimism hurdles, prospects of the next $1.9 trillion stimulus package tripped its way out of the House of Representatives; however, the U.S. Senate is set to begin debating the fiscal aid/stimulus/relief package – in WHAT format will it be approved after warring political parties “grind” the package and the market’s optimism?
Many talk of horizons; “as I have said last week, my horizon is usually a Friday’s close …”
Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.
Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors. All investments are subject to risks. Investors should consider investment objectives.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
