SRNE Trade on Dec 4, 2019 15:28 from beno: Tradervue User Stock Trades.

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beno

 

Fundamentals

Shares Outstanding: 141.87m
Cash: 34.65m
Current liabilities: 112.7
Current ratio: 0.6
NWC (total current assets - total current liabilities): -45.145m
Monthly Burn rate (net cash used in operating activities / months): 15.2m
Estimated current cash: 4.2m
Accumulated deficit: 597m
Book value per share (Stock holder equity / Shares outstanding): 0.32
Baby Shelf Exemption price per share: 0.528

Catalysts / News / Painting the picture

Received acquisition offers between $3 and $5 per share
2017 ATM S-3 for $350m (pretty sure its all used)
Diluted by ~9m shares since December 2018
Needs cash badly!
Lots of stock resales by institutional investors (many S-3's)
Institutions could be looking for exit when offer comes in
12% SF

Technical Analysis

-Gapped up small but wasn't able to hold
-Made lower high and broke below 3.80, turned red on day
-Levels: 3.40, 3.70, 3.90

Original Plan / Strategy

First test short of 3.70 to 3.80 zone

Review

Saw stacked offers so took a 100 share starter at 3.69, was expecting it to peak above VWAP like yesterday but never happened, didn't event get to 1/4 size. Can't complain about small green trade.


Execution detail:

Date/time Symbol Side Price Position
2019-12-04 15:28:51 SRNE sell $3.690 short
2019-12-04 15:44:56 SRNE buy $3.640 0


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