The rise lately could also be a wash-sale move. Th
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Posted On: 12/07/2023 12:30:20 PM
The rise lately could also be a wash-sale move. The idea may be that if you believe next year expects to be positive for clinical hold release or partnership, you buy now while also following wash-sale rules to take any higher tax lot losses this year. Then if 2024 is indeed a better year, you will have a long-term gain by selling shares any days after these dates into last trading days of 2024.
I’ve been looking at doing some of that generally but it is odd that this would be the exclusive reason for the rise. Then again, the volume isn’t tremendously high. Yet. So this isn’t yet conviction buying, it’s just motivated buying at these levels. Also a FOMO move maybe.
And without any publicly available information. Just that the Dr. Lalezari hire was a masterful move.
I’ve been looking at doing some of that generally but it is odd that this would be the exclusive reason for the rise. Then again, the volume isn’t tremendously high. Yet. So this isn’t yet conviction buying, it’s just motivated buying at these levels. Also a FOMO move maybe.
And without any publicly available information. Just that the Dr. Lalezari hire was a masterful move.
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