Geron closed up 14 cent at $2.44 on 1.3 million shares. The three month avg. volume is 832,770 shares. Why the run from $1.71 on Aug. 15th to $2.55 on Aug 28th? I have no real answer, I sold 40 covered calls at different prices and months just because the run may be all bs. Why? Geron needs money they will do secondary offering soon. The last one I lost half my money on. JPM made 50 cents a shares selling the offering. At $1.71 a share they would have to sell the secondary at $1.50 or less a share, with JPM fees that would leave Geron with $50 million or less [that's if they sold 50 million, they have the ok to sell 100 million shares] So I think they are going for $2.50 a share. That would mean a run to $3 plus, then a secondary offering at $2.50 a share, maybe 100 million shares. That would $200 million clear and would do Phase 3 with the help of a partner. That's my guess on the run, I hope [with my 9,000+ uncover shares] I'm wrong.
We will see.
ACTC closed down a little but still above 8 cents at 0.0808 on 2.3 million shares. The three month avg. volume is 5 million shares. Need god news.
AAPL give back a little to close at $674.80 on 9.4 million shares. The three month avg. volume is 14.1 million shares.
Good luck in this rigged casino,
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