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Started By
Message
SRNE and possible short squeeze on Monday
Posted on 5/17/20 at 12:12 pm
Posted on 5/17/20 at 12:12 pm
Can anyone explain in layman’s terms what possibly might happen Monday with SRNE? And what should someone do who bought in under $5 on Friday after this short squeeze?
LINK
LINK
quote:
As of close on May 15, 2020, a whopping 24,200,000 shares of SRNE are short. The previous day was 24,750,000 shares short. In other words, the short interest in SRNE stock dropped -2% from the coronavirus news above meaning that roughly 18% of the outstanding shares in SRNE are still short. If a short squeeze starts, SRNE could be a $20 stock in a flash.
5
Posted on 5/17/20 at 1:39 pm to Crescent Connection
Looking at that link I would be more interested in that fact that they are saying they have a cure for Covid19.
quote:
The company announced it had a cure for the coronavirus.
Scientists at Sorrento Therapeutics have found an antibody that completely blocks coronavirus.
The company says its STI-1499 antibody stopped coronavirus from entering 100 percent of healthy human cells in petri dish experiments.
Posted on 5/17/20 at 2:15 pm to TigerintheNO
That’s why it jumped Friday. The volatility was a swing traders dream.
People, including the OP, are trying to guess where it goes from here.
People, including the OP, are trying to guess where it goes from here.
Posted on 5/17/20 at 5:18 pm to TheChosenOne
Gonna be one of the more interesting setups in a while, have been in some seriously crazy short squeezes in my day, but this one is especially interesting imo
Think pre market will be fire
Think pre market will be fire
Posted on 5/17/20 at 6:23 pm to The Egg
Going to rocket like a mother fricker.
A lot of people will get caught when it comes down. I've had it on my watch list since they posted initially.
Didn't have liquid in my account as I cleared it for SSL.
A lot of people will get caught when it comes down. I've had it on my watch list since they posted initially.
Didn't have liquid in my account as I cleared it for SSL.
Posted on 5/17/20 at 8:39 pm to thejudge
How high are we talking and for how long?
This post was edited on 5/17/20 at 8:40 pm
Posted on 5/17/20 at 9:02 pm to WylieTiger
I don't know. Haven't done much on the research as I don't have anything to put in it. Watching and learning.
There are many there on yhe sidelines waiting tk cash out I'm betting. The rug will be pulled out from it in the short term once enough attention has been sucked out.
People will be left holding the bag hoping that a drug comes out of it or they will suffer a loss.
There are many there on yhe sidelines waiting tk cash out I'm betting. The rug will be pulled out from it in the short term once enough attention has been sucked out.
People will be left holding the bag hoping that a drug comes out of it or they will suffer a loss.
Posted on 5/17/20 at 9:15 pm to thejudge
If you're saying it's going to jump up I'm pumped since I'm still in it lol
Posted on 5/17/20 at 10:16 pm to thejudge
Of interest, SRNE climbed from $2.50 April 2009 to $75 April 2010, then crashed back to $7 by April 2011. What else happened in early 2009?...the swine flu. Trying to find out if that spike was also due to positive lab studies, and a subsequent downfall after futile human clinical trials. Can’t find anything online unfortunately.
Posted on 5/17/20 at 10:24 pm to bayoumuscle21
I’m still in it as well. The realist in me is saying we will likely see a drop tomorrow if no additional news is available. A lot of people watching from the sidelines.
Looks to be a pretty good day for the overall market though.
Looks to be a pretty good day for the overall market though.
This post was edited on 5/17/20 at 10:28 pm
Posted on 5/17/20 at 11:04 pm to Crescent Connection
It was my biggest holding and I bought most of it around $1.50-$1.75/share and kept adding to it. I about crapped my pants when I saw it going crazy on Friday. Like an idiot, I started selling and sold more as it kept climbing. Wish I had held on to more of it.
Posted on 5/17/20 at 11:10 pm to RedMustang
quote:I find that fascinating.
It was my biggest holding and I bought most of it around $1.50-$1.75/share and kept adding to it. I about crapped my pants when I saw it going crazy on Friday. Like an idiot, I started selling and sold more as it kept climbing. Wish I had held on to more of it.
For it to be your biggest holding, you must have (or have had) a pretty good reason for that. So kind of surprising that you wouldn't have a game plan for it.
With that being said, no one has ever lost money by taking profits. Sounds like you had a very very good return.
Posted on 5/18/20 at 12:34 am to castorinho
I read that they turned down a $4/share buyout so I figured the company thought it was worth more than that. Once it got above $4/share I began selling. Nice profit yes, but it could have been much more. It ran up early in the day, but began falling and I panicked.
Posted on 5/18/20 at 5:12 am to bass
Over $9 now
Posted on 5/18/20 at 5:29 am to Hawgeye
quote:
Over $9 now
Hell yea, LET'S RIDE!
Posted on 5/18/20 at 5:34 am to bayoumuscle21
Posted on 5/18/20 at 5:41 am to bass
quote:
bass
You have a number in mind?
It's hitting 9.75
Had to edit because of RUNNING
This post was edited on 5/18/20 at 5:48 am
Posted on 5/18/20 at 5:53 am to bayoumuscle21
If this is indeed a short squeeze, could hit $20’s fairly soon. That’s probably when I’ll adjust my position. Until then, the stop keeps going up slightly.
Posted on 5/18/20 at 5:59 am to bass
I'm in it for only 7 shares but it looks like it will be an interesting day. Are yall thinking that 20s is the ceiling?
This post was edited on 5/18/20 at 6:01 am
Posted on 5/18/20 at 6:01 am to bass
I hope your analysis is correct, for both of our cases.
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