$MLNT was surging on 19.06.2019 by 223% due to the following reason : I checked the FDA website approvals but I couldn't find any info about this approval on the same date that the stock rockets. I only found outdated approvals for this company on 19.06.2017 does anybody know how can I get the new approvals from FDA website or any official website ? I don't like to use yahoofinance , stockalpha , ... etc for such thing since they sometimes provide rumors !
Interesting. My test bot shorted this thing yesterday at $6.61 and covered today at $5.03, for 23% profit. And right then I see this post. Anyway, it didn’t take a genius to figure out how to play this, unless my bot is a genius, haha.
The stock was over extended. the problem in this stocks it is very hard to borrow ! if my broker allow me , I would short it on the close of its 223% I am not looking here for strategy. I am searching for the news on the FDA so I can find the news !
Understood. Just saw it here right after my test trade was closed, but in practice I wouldn’t be able to short borrow. I’d hope FDA does update or provide some info soon, or maybe you could call them since they may like to know if a company is providing false info...
It was a test/practice short, without brokers (like a backtest but real-time) Btw, I see that MLNT has options, so it would’ve been possible to short by buying $7.50 puts yesterday. Safer too.
Thanks for the link. I could find my answer : seems not approval on the drug but just a priority to review it. people on stock market was exaggerating about the news !