Originally Posted by
Daly
For those of you who are interested in CYDY, which hit $7 in Germany overnight. The following is from a Wall Street trading desk.
Institutional Investing End of Day Summary: 6/25 Price $6.15 up 23.25% from yesterday's $4.99 close. Total Vol shot up to 18,492,895, 80% above yesterday's 10,512,451.
Institutional Block Trading Total Vol was 5,036,417 or 1.5 million more than yesterday. But the percent of institutional trading of the total volume was only 27.23%, about 6% less than yesterday's 33.12% and the average trade was smaller, though a solid number at 21,073 vs 24,692 yesterday. There were a couple of 6 figure trades during the day. The price pushed back up to $6.15 on 10-30k trades during the last 8 minutes of trading.
So, it looks to me that institutions are clearly still interested in accumulating prior to the trial result announcement next week but were kind of dragged along by retail investors with the same idea on a nice 23% price up day. The institutions paid up on the last two trades to the $6.15 ask price. They want the stock.
So, where are we? 1-2 trading days to the possible trial result announcement day. There is lots of conviction that the results will be very good, hence the big price move.
Accordingly, tomorrow I would expect more of what we saw today only more so as time is running out to accumulate before the result announcement. Yesterday, I speculated we might be up a dollar or more today. Got lucky and was on target.
Based on the huge jump in volume, I'll press my luck at say I would expect a $2 - 3 jump in share price to $8-9 given that positive news from the trial would reveal the first drug to effectively address worst aspect, death, of the worldwide Covid 19 pandemic, a pandemic that is accelerating and has no other effective.