Shared by
beno
Fundamentals
Shares Outstanding: 54,815,202
Cash: $345.1m
Current liabilities: $111.36m
Current ratio: 3.75
NWC (total current assets - total current liabilities): $307m
Monthly Burn rate (net loss / months): $33.43m
Estimated current cash: $295m
Accumulated deficit: $2144m
Book value per share (Stock holder equity / Shares outstanding): $-1.6
Technical Analysis
-Consolidation below day 2 high
-Broke level, 6.2 became over/under with 5.25 as next over/under level
-Huge run up then bounced from 6.2 level, closed strong
Catalysts / News
-Earnings: Q3 loss but beat on revenues
Original Plan / Strategy
Backside short as it looked like we failed from the 6.2 level again.
Review
First attempt at backside short was a success but was more a scalp then an intraday swing, clearly didn't have conviction in the setup. I made a mistake shorting (for another potential backside short) when the stock traded above 6.1. I should have waited for a break of 5.9 to short it.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-11-13 10:08:45 | CLVS | sell | $6.050 | short |
| 2019-11-13 10:18:13 | CLVS | buy | $5.970 | 0 |
| 2019-11-13 10:43:27 | CLVS | sell | $6.080 | short |
| 2019-11-13 10:52:05 | CLVS | sell | $6.140 | short |
| 2019-11-13 10:54:13 | CLVS | sell | $6.230 | short |
| 2019-11-13 10:56:23 | CLVS | buy | $6.278 | 0 |
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