Cardium Therapeutics (CXM) What happened?

[kidcla]

Can someone please explain to me what happened to cxm today (october14) I know some people buy up to a release date but dropping 25% on relatively good news doesn't make sense to me, if anyone has an idea why this happened please let me know?

[waves]

It is a simple sell on news. It is not just happened on CXM. You can see Alth, BDSI, CRXX, and recent VNDA. They all have good news, but stocks went down. Currently Biotech is a weak sector. Except for potential blockbuster drugs, normal drugs now is difficult to increase the stock price. So people should be careful playing biotechs now.

[kidcla]

Thanks for the input i've noticed a lot of that happening lately and been trying to find a good biotech but I can't ever get in early enough. I'm not a experienced investor so it's interesting for me to watch. I got lucky on HGSI bought in april for 1.33 but since then havn't invested much still trying to learn a little more.

Do you have any thoughts on where CXM is headed now?

[waves]

Currently CXM is weak from TA. It may go down further. If you don't have the stock, I don't think it is a good time to enter right now. you may watch it closely. Better to wait till the down trend changes. If you have the stock, holding or sale depends on your situation. I think eventually it will go up. That is my two cents. This is not a buy or sell recommendation. You have to decide according to your own situation.

Here I try to add a chart which I learnt from DogDayTrader and Fav's poster.

[kidcla]

Cardium Therapeutics (NYSE Amex: CXM) today announced a registered direct offering of common stock to selected investors for aggregate gross proceeds of $6.0 million. The securities in the offering include an estimated 4,615,385 shares of Cardium common stock at a price of $1.30 and warrants to purchase up to 3,000,000 shares of Cardium common stock at an exercise price of $1.40.
They say this information might have been leaked wednesday which may have had to do with some of the plunge oct 14.

[faizan]

Cxm I believe will go up cuz its still under 1.3 nd new stock offerong is at 1.3 so they may raise the stock price so the new investors have an incentive to buy the stock

[axman2009]

Cxm I believe will go up cuz its still under 1.3 nd new stock offerong is at 1.3 so they may raise the stock price so the new investors have an incentive to buy the stock

It may not be true, some of the insitute investors will lower the price to buy in cheaper stocks. Like INO, the new stock is 2.7, but it seldom stayed above 2.7.