June 10, 2022 8:51am
The cell and gene therapy sector is showing a lot of worrisome signs – yet again!
Pre-open indications: 1 Puff/Pump/Promote
RMi outlines a daily bell ringing of “indications” about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations? What I provide is a trusted source of share pricing intelligence – it’s more than opinion, I deal in the facts and numbers that back them up.
The 9:00 A.M., ET edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Dow futures are DOWN -0.80% (-258 points), S&P futures are DOWN -1.01% (-40 points) and NASDAQ futures are DOWN -1.33% (-164 points) early in the pre-open – so far,
Stock futures dropped on Friday morning after a highly anticipated inflation report showed a faster-than-expected rise in prices,
European stocks fell further on Friday as investors digested the European Central Bank’s latest policy meeting,
Asia-Pacific stocks were mixed.
The major indexes broke support Thursday …
The Labor Department released the May consumer price index at 8:30 a.m. ET.
· The CPI inflation rate rose to 8.6% from April's 8.3%.
· U.S. Treasury yields were slightly lower on Friday morning as market participants await the highly anticipated release of monthly inflation data.
· The yield on the benchmark 10-year Treasury note dipped roughly 1 basis point to 3.031%, while the yield on the 30-year Treasury bond fell nearly 2 basis points to 3.153%.
· Yields move inversely to prices, and a basis point is equal to 0.01%. Short-term rates moved more due to their higher sensitivity to Federal Reserve rate hikes. <CNBC>
For the week so far, the Dow is lower by 1.9%, on track for its 10th down week in the past 11. The S&P 500 and Nasdaq Composite are both off by more than 2%, on track for their ninth losing week in 10. <CNBC>
RegMed Investors’ (RMi) closing bell: “RegMed Investors’ (RMi) closing bell: share pricing destruction” … https://www.regmedinvestors.com/articles/12467
Ebb and flow –
June – 4 positive and 3 negative closes
· May - 11 positive and 10 negative closes
· April - 1 holiday, 6 positive and 13 negative closes
· March – 13 negative and 10 positive closes
· February stats: 11 negative, 8 positive closes and 1 holiday
· January stats: 2 holidays, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
HOLD as the CPI came out …
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat again on Thursday with 43 shares traded after Wednesday with 2 shares traded, Tuesday’s $0.00 at $4.68 with 65 shares traded, Monday’s +$0.23 with 3,575 shares and traded, last Friday’s -$0.33 with 250 shares traded.
WARNING: Earnings reported a VERY SAD picture of a company’s status without U.S investors and reliance on non-U.S. Chinese investors. Another PPM -private placement – this one for $5.1 M without a price per share notification. Also, the terminal death lawsuit just got settled (4/28) for $6 M with a PPM – a preferred convertible debt financing. is it the ONLY avenue to finance utilizing non-U.S. Chinese investors?
· So, Has BSTG filed its Annual Report to the FDA, isn’t it a “Material Fact”?
· Is yet ANOTHER financing on-going of 5+M shares being prepared to be sold?
The BOTTOM LINE: The cell and gene therapy suffered significant losses Thursday, with the major indexes undercutting key short-term support. Surrounding the sector’s coverage group, decliners trounced winners.
Today, friday; we are NOT in a sustainable "place"!
The stock market rally had its worst day in weeks. The major indexes closed below their 21-day moving averages for the first time since late May and undercut their June intraday lows.
I STILL don’t hear the bugle sound of an advance or rally … rising rates and slowing economic growth are not a supportive environment for investors.
Again, as have I written (repeatedly), “There's a battle in the cell and gene therapy sector between which or what breaks first: share pricing resilience or tumbling into yet another downturn as fear remains beneath the strength of any positive close” …
This continuing state of volatility confirms fears that I have been expressing in these daily and weekly posts.
I have NOT seen ANY step-up of declining company investment by ANY CEOs and their management teams – WHY NOT?
I try to keep it simple … and short!
Whether information or intelligence is good, bad or somewhere in between; 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.
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.
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 securities referred to in this publication.