SEEL Stock Soars on 2019 Strategy

Short sellers have been piling on SEEL stock

Digital Content Manager
Mar 29, 2019 at 10:06 AM
facebook twitter linkedin

Pharmaceutical concern Seelos Therapeutics Inc (NASDAQ:SEEL) is at the top of the Nasdaq after announcing its 2019 plans. The company anticipates it will dose the first patient with the life-threatening spinal disease Sanfilippo syndrome in a mid-stage trial with the company's experimental Trehalose treatment in the second quarter. The company also announced an early stage study of its ketamine PTSD treatment this summer. As a result, the shares are up 27.3% at $3.64.

SEEL stock has been struggling to rally atop the $4 mark for some time, as level that has acted as a ceiling for the shares. The equity bottomed out at an all-time low of $1.45 on Mar. 4, before nearly doubling later that week. SEEL has since pulled back for these highs, with downward pressure recently emerging at its 40-day moving average. However, today's jump has the penny stock breaking north of its 50-day trendline for the first time since its intraday spike on Mar. 8. 

Short interest has skyrocketed on the stock in 2019, up over 1,400%. Shares sold short now represent a quarter of the stock's available float. Should these bearish bets begin to unwind, some additional tailwinds could help SEEL on its next leg higher. 





Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners