Disclaimer: None of this is investment advice. The logic here may be bad and should not be relied upon. My assumptions may be bad and should not be relied upon. This post reflects my opinion. I may hold positions in securities I write about, and I believe in what I write.
We are emerging from Day 4 of the 10 needed to close at or above $1 to regain compliance with Nasdaq’s listing rules.
I now get google alerts for EVFM and Evofem. Today’s alerts included a GuruFocus post that was just a repost of the press release Evofem Strengthens Phexxi® Intellectual Property with New Composition of Matter Patent From USPTO. I mean the press release is from June 30, but my perspective is that it’s better that more people know about the good stuff Evofem is doing. So wtg, GuruFocus.
As we enter this new week, I expect a massive downward push on the stock price. I also expect the volume to be substantially greater than Friday’s 61m+ shares traded. There’s a real possibility it gets pressed to below $1, which I wouldn’t entirely mind because I have four limit orders to scoop up more shares at prices ranging from just under $1 to $0.86. My average is about $0.88, and I wouldn’t be opposed to averaging up, but I would prefer that bears didn’t gain momentum.
I think at minimum, we’ll see a strong push to keep the stock price out of the money for this Friday’s $1.50 options, and a gamma squeeze may be why the bears are extra trying to protect the stock from hitting $1.50.
Update on twitter user @joey88walsh: He deleted the tweet I’d embedded in Friday’s last post (“$EVFM REJECTED 1.4$ again!! Man this things trash and weak… and even with all that fake hype”). I think it’s so odd that someone just does a daily purge of tweets other than sports, war, and politics posts. And while he has 62 tweets now, I’d be surprised if he hasn’t deleted triple that just in EVFM-related noise. I’m not asserting that the negativity is done in bad faith and just to influence the social sentiment score of Evofem.
The S-Score is a normalized representation of social media sentiment over a lookback period. The S-Score measures the deviation of changes in sentiment intensity of a given stock. The S-Score answers the question, “Is the conversation on Twitter about a particular stock significantly more positive or negative than normal?” Higher levels of sentiment indicate a stronger reaction. High positive sentiment indicates a security is statistically likely to move higher. High negative sentiment indicates the security is statistically likely to go lower.https://web.archive.org/web/20210725180913/https://www.fidelity.com/webcontent/ap110398-researchsnapshot-content/16.13/help/Learn_More_About_Social_Sentiment.pdf
In unrelated news, if someone were to attempt to employ a short and distort strategy, what would that look like on twitter?
Again, I only called @joey88walsh out because he replied to a tweet of mine with something to the effect of “the shorts run this stock lad,” (also deleted)–wasn’t formatted like tweets generally are within WordPress. After quick investigation, I saw that the doubty tweet had been deleted. I found the rest of what I consider suspicious after the deletion of the other embedded tweet.
Four days down, and six to go. I maintain that if Monday turns out to be Day 5 of the 10, the bears will only press harder. And I see each penny they use to keep the stock price down as another vote of confidence in the prospects for Evofem.