GNBT is still under the influence of the Day Traders, and so what you are seeing a typical response to this PR. Remember the last CC pps buildup. That was because the CC had a fixed date, then when the CC happened, the pps peak was reached and then the profit cash-in. The May 6th CC is still the day traders target date.

What is happening today is that the PR says that the final pieces of information for the IND has been submitted to the FDA. But the FDA still has to make the IND approval. Because there is an uncertainty that the IND could be denied, (thought I doubt that is highly unlikely), the weak handed day traders are bailing, thinking that the pps will really tank badly with a FDA rejection. And they are right, pharmaceutical pps always tank after a FDA IND, trial phase, and/or NDA rejection.

So let’s not go bashing the PR, Joe, or the company. The PR was great and well written. It sets the stage for when the FDA approves the IND and the vaccine trial actually begins. There will be no ignoring that news and I believe that will bring in the “outsiders” who will dislodge the day traders hold on the churn shares, and buy GNBT to hold for the outcome of the vaccine trial.