Or, put another way, someone with big pockets purchased .......
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WOW this bounce is going flat fast....
Day traders are out already....Watch for the rebound .
So it was Salt buying the 1.3m the other day
https://www.nzx.com/companies/PEB/announcements/250870
Lol I love it how everybody sweats the small stuff yet misses the woods for the trees.
Even if today's announcement results in a neglible price movement, it IS confirmation that the company is further down the track in their commercialisation process.
It is not the announcement itself that matters but the continuation and success of their roll-out strategy.
Think long term.. and stop sweating intra-day rises/falls, day traders, bull-traps, sell-downs from big holders etc.. because there's a good chance those people will be proven wrong in the long-game.
Seems the twelve month timeframe allowed for bringing the big boys on board is indeed advancing. Might satisfy some who may had perceived a news vacuum too.
Looking forward to some more detail on Friday.
“In addition we are advancing relationships with large commercial payers and the Centre for Medicare and Medicaid Services (CMS), which provides healthcare insurance for 100 million people or nearly a third of the American population. Progress is being made with key customer segments including Integrated Healthcare Systems, the Veterans Administration (VA), and Large Urology Groups (LUGS), who are the point of contact for many patients presenting with haematuria (blood in the urine) which is an early indicator of possible bladder cancer.”
An institutional investor like Salt does not invest until such time as they do due diligence and get seriously comfortable with a company.
The fact that they are building up a stake ahead of the results announcement is very positive.
Meanwhile, chill out and think cool watermelons.