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CLDX: This should be getting a fairly good pricing in the next day or two, so if this behaves like some others similar to it recently (See: MRSN and ADAP post pricings), I see it trading higher until it prices and then probably for another day after pricing, and then likely floats back down to offering price a day or two after they do announce it. So I am long bias tomorrow on dips or any open weakness. Think they still have quite a few trapped short as well, and got even more today on offering news after hours. They really dried up the liquidity today, hard to get out for larger shorts in from last Thurs/Fri.
HTZ: Praying they pop this somehow tomorrow am. Could even see them laying off on the ATM for a bit to try and get it higher first, but this is absolute dead money. This WILL go sub $1 and that will happen fairly quickly. Anything back into the mid/high 2s tomorrow and I’ll be looking to get short. Pay attention to the tape though – make sure you see big chunks hitting the bid like all day today. It’s on SSR obviously so you can make a pretty educated assumption that that’s them using the ATM if so. If they’re not using it, I would ignore.
NETE: Shell company that does absolutely nothing. Awesome fader today and it’s definitely not done. Higher the better tomorrow, anything back into 7-8 early would be great for a re-short opportunity.
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See you out there!
– D
Thanks Dante!
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