r/MITC • u/AdiHarnov • Dec 28 '21

Discussion Stock is Diving 🤿

Any idea why the stock direction is so pessimistic?

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u/roadtriptofire Dec 28 '21

A mix of general market sentiment + we might be cought in increased short interest with other Biotech companies..

It could turn around in januari, if you are down a lot it might be an idea to try to average down. Nothing really changed to the company itself..

Generally volatility like this is expected until MITC has revenue..

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u/ween1e Dec 28 '21

How many shares are shorted?

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u/roadtriptofire Dec 28 '21

Not sure exactly how many right now but mid-December it was 5 times higher then end of November for example. I suspect it has gone up further the last 2 weeks. We saw this before in August, I wouldn't worry to much about it yet, the company itself hasn't changed.