Or … Just Another ‘Pump & Dump‘

Seems like anything related to the heart is all the rage these days.

‘Protein‘, Anyone?

So, it is with BridgeBiopharma (BBIO), currently the number three in market cap on the S&P biotech Index, SPBIO.

The daily chart shows the extent of the day’s move.

BridgeBiopharma (BBIO), Daily

Note that price action did NOT gap above resistance but pushed up to that area during the session; backing off (slightly) before the close.

Correspondingly, the leveraged inverse fund LABD had a rough day in the early session.

However, that down move was already starting to erode before the close.

Biotech Leveraged Inverse LABD, Daily

The blue arrow shows price action closed well off the lows (blue line).

Tomorrow, there are a number of data releases scheduled, link here before the open, then during the early session.

Expectations

While still maintaining a short position via LABD (not advice, not a recommendation), the expectation is BBIO, has the garden variety pump-and-dump.

We’ve all seen this movie before … right?

That is, completion of a ‘trial’ is a long way from ‘approval’ and then manufacturing start-up.

Stay Tuned

Charts by StockCharts

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