Feb. 4 at 2:21 AM
$SPRY $NDAQ $RUT @Stocktwits
Recent trading suggests short-term price movement is being driven more by off-exchange activity via dark pools, ATS desks, and broker internalization than by changes in fundamentals. When a large share of volume occurs away from lit markets, visible price discovery can lag, which appears to be happening here.
Institutional and insider ownership exceeds 90%, leaving a highly constrained effective float. In this structure, relatively modest positioning flows-particularly short activity routed through dark pools/ATS desks/brokers - can delay and suppress price without reflecting genuine selling.
There is little evidence of distribution by long-term institutions or retail investors. Borrow conditions have remained CHEAP for an extended period, but as Neffy’s competitive position strengthens and competing needle-free alternatives remain delayed 12+ months, the cost and risk of maintaining short borrow exposure should RISE materially. A failure of BORROW FEES to increase from here would be HIGHLY UNUSUAL given SPRY’s RECENT REGULATORY ACHIEVEMENTS, upcoming approvals and overall business trajectory.
SPRY remains a float-constrained stock where price discovery appears suppressed and delayed, not broken. With growing sales momentum and multiple recent/upcoming regulatory milestones, A BORROW FEE SPIKE SHOULD BE INCOMING. In turn this should re price UP in the coming months!