November 24, 2021 8:24am
Leave well-enough alone
Pre-open indications: 3 SELLs, 1 Pump (or No Promote)
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi defines the extenuating factors of share pricing!
Remember that overnight and pre-open actions in futures doesn't necessarily translate into actual trading in the coming day’s session.
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”
Dow futures are DOWN -36% (127 points), S&P futures are DOWN -0.31% (-15 points) and NASDAQ futures are DOWN -0.40% (-65 points)
U.S. stock futures were lower pointing to a negative open Wednesday morning as rising rates continued to frighten away investors
European stocks were mixed because of the region’s latest Covid surge.
Asia-Pacific stocks were mixed, with Japanese stocks leading losses regionally.
Henry’omics:
Trading could slow and low due to the Thanksgiving holiday.
Tomorrow, U.S. markets are closed Thursday for Thanksgiving and will close early on Friday in a shortened session.
Economic Data Docket: weekly unemployment claims, a GDP update, personal income, consumer confidence reads and Federal Reserve FOMC minutes.
If you didn’t remember what happen at Tuesday night’s close, you won’t be prepared for today’s session:
Tuesday’s evening’s recap: “the afternoon sprung the cell and gene therapy sector to life. In my 35 covered cell and gene therapy sector equities, a train of thirteen (13) downdraft sessions was broken” … https://www.regmedinvestors.com/articles/12196
Q4: November, 4 positive and 13 negative close to date
- October, 8 positive and 13 negative closes
Companies in my headlights – It’s your decision; I provide an idea and context:
Maintaining SELL with a Pump or No Promote:
Biostage (BSTG) closed flat with 0 shares traded after Monday’s -$0.30 with 1,141 after Friday’s -$0.39 with 8.625 shares traded, Thursday’s $0.00 with 17 shares traded, Wednesday’s flat with 2,889 shares traded and last Tuesday’s +$0.39 to $2.99 with 2,687 shares traded.
- Earnings release: Biostage (BSTG) had a net loss of -$800 K, or -$0.80, a $200 K decrease in grant income and a cash position of $2 m—still with NO clinical trial with a 2-year-old IND. Add in some legal negligence ... where its insurance carrier will NOT cover the terminal death suit filed.
What’s there to invest in – the “Sword of Damocles” hanging over its recent insurance company rejection of legal expense/costs of a terminal death suit against the company?
- For a company with NO clinical trial, an a one (1) and a half year approved IND, four (4) employees and NO CRO <clinical research organization> initiation. It’s fake since you can’t make it …
Probabilities versus aftermarket/pre-open share pricing indication moves:
Maintaining SELL:
Applied Genetic Technologies (AGTC) closed down -$0.08 to $2.39 after Monday’s -$0.13 to $2.47 after Friday’s -$0.12 to $2.60, Thursday’s +$0.06 to $2.72 and Wednesday’s +$0.29 to $2.66 with a negative -$0.03 or -1.26% aftermarket indication.
CRISPR Therapeutics (CRSP) closed down again -$0.51 to $80.08 after Monday’s -$1.85 to $80.59, Friday’s -$0.53 to $82.44, Thursday’s -$3.11 to $82.97 and last Wednesday’s -$0.50 with a negative -$1.08 or -1.35% pre-open indication.
Fate Therapeutics (FATE) closed down -$0.26 to $52.19 after Monday’s -$3.52 to $52.45, Friday’s $55.97, Thursday’s $55.00 and last Wednesday’s $53.48 with a negative -$0.19 or -0.36% pre-open indication.
The BOTTOM LINE: Time to go … holidaying … the past session closed barely positive after having been showed the deep end of the equity pool.
Investors should have reduced exposure over the past couple of days; much of that by taking partial or total gains in winners that then sold-off hard.
I’m STILL 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!”
RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
WHY do I keep analyzing Biostage (BSTG): When one sees an inextricable wrong and morally repulsive scenario; it takes courage, resolve and patience to stay the course of asking the questions without response!
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.
Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
