April 1, 2021 7:52am
I’m just waiting for my jelly beans … my version of an April “Fools Day Joke”
Pre-open indications: 1 Maintain SELL
The Biostage (BSTG) Chronicles: could not complete the filing of its Form 10-K for the period ended 12/31/2020. I haven’t been wrong, is there more to this “story line”? <read more>
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Dow futures are UP +0.06% (+20 points), S&P futures are UP +0.32% (+13 points) and NASDAQ futures are UP +0.94% (+123 points)
U.S. stock futures were creeping cautiously higher early Thursday
European stocks advanced on the Euro zone manufacturing activity growing at its fastest pace on record in March, with IHS Markit’s final manufacturing PMI coming in at 62.5 compared to February’s 57.9,
Asia-Pacific stocks were higher as Q2 kicked off with several economic data releases (Japan’s quarterly “tankan” survey, Australia’s retail sales decline, Chinese factory data) across the region.
Data Docket: weekly jobless claims data from the Labor Department and several manufacturing and construction data sets slated for release. Economists surveyed have penciled in 674,000 initial jobless claims, which would be a slight decline from the prior report.
March finished with the S&P 500 rising +0.36% on Wednesday, breaking a two-day losing streak, while the Nasdaq gained 1.5%. The S&P (+4.2%) and the Nasdaq +0.4%. The 30-stock Dow fell slightly but still finished the month with a gain of more than 6%.
My day to walk away ... with ONLY one comment - Biostage (BSTG) is a "zombie" company!
Data Docket: weekly jobless claims data from the Labor Department, and manufacturing and construction reports slated for release. Economists estimate 674,000 initial jobless claims were filed in the most recent week, which would be a slight decline from the prior week.
Wednesday’s evening’s recap: “the month is over as the sector closes out March and the Q1 on a high note. Wednesday, the sector moved to new heights pre-holiday and Thursday close” … https://www.regmedinvestors.com/articles/11841
- The Nasdaq closed UP +201.48 points (+1.54%);
- The IBB closed UP +2.65% and XBI closed up +4.26%
- Sector volume was LOW with 6 of the 29-upside having higher than the 3-month average volume with the volume of 1 of 3-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was down – 0.21 points or -1.07% at 19.40;
- Wednesday’s percentage (%) of the 29-upside were +0.11% (BLFS) to +11.28% (FATE) while the 3-downside ranges from -1.88% (VYGR) to -7.17% (KDNY);
April and Q2: begin today
March: 10 positive, 12 negative and 1 neutral 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:
The Biostage (BSTG) Chronicles: Maintaining Sell, questions continue
Biostage (BSTG) could not complete the filing of its Form 10-K for the period ended 12/31/2020 due to disruptions in staffing… delaying their ability to obtain and compile the information required to be included in the Form 10-K, which delay could not be eliminated … without unreasonable effort and expense. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934.
Biostage (BSTG) closed down -$0.035 to $1.34 with 295 shares traded, after Tuesday’s -$0.125 to $1.375 with 758 shares traded, Monday’s flat at $1.50 with 25 shares traded, Friday’s flat with 10 shares traded and last Thursday’s flat at $1.50 with 39 shares traded.
Question#1: I haven’t been wrong, is there more to this “story line”?
Question#2: WILL BSTG’s management and BOD along with its auditor RSM US LLP explain IN DETAIL the reasons behind the late filing. Doesn’t it seem like a pretty “flimsy” excuse (staffing – they have had months to prepare and didn’t) for NOT filing?
Question#3: WHY does the BOD and its newest member, Herman Sanchez support the current management team?
Question#4: Are there MORE issues related to accrued liabilities NOT being recorded and WHAT about the previously awarded PPP loan coming due?
Question#4: Is RSM US LLP still the auditor, notice there was NO statement in the SEC filing?
MINORITY PUBLIC shareholders are waiting, watching and weighting responses to MAINTAIN their RIGHTS.
No OTHER prognostication today … for the session before the holiday and long weekend.
The BOTTOM LINE: NO change, “It is hard to keep up with a volatile sector, which makes it not a good time to buy; however, it’s hard to overlook the oversold, a few “falling knives” and always the sells.”
Investing in cell and gene therapy equities is risky business; appreciation hinges mostly on two criteria; promising data from clinical trials or ultimately, regulatory approval.
The past couple weeks have been marked by choppy trading, especially heading into some of the final sessions of Q1.
I STILL am a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”
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.