After falling from a high of $7.33 on Monday's news — its brain cancer immunotherapy treatment was approved for limited use in Switzerland — NWBO.OB fell on a grand scale back down to earth.
Still, NWBO was quite strong and healthy at $4.20, seemingly bottomed out, as I noted yesterday. Today's action proved that assertion correct. NWBO gained 21% to $5.10.
However, today's gain came on the lowest volume (923,400 shares) since pre-runup. This now begs the question: was today a dead cat bounce?
There are still no solid numbers coming from the Co regarding sale of the vaccine in Switzerland. This is where speculation remains quite alive. For those who trust the science and can afford to be patient, $5 could be a steal. The only certainty, at least until numbers start coming in from Europe — DCVax is available for market in this quarter — is that the tiny 4.17-million float will provide plenty of turbulence. Whether the bears or bulls get motion sickness, there are pills for that.
Disclaimer: Pupule Paul has no position in NWBO.OB.
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