I'm sure you all missed me. I was planning to take my lumps on MATE but then point out QESS (formerly PLUG) has been a massive winner. But I really like MLTX right now so that's going to be what this post is about.
Gap down from $65 to $7 that needs to fill. These are some of my favorite type of trades where a stock makes a new high post-tank, and now we are in the "gap fill" zone.
Gap fills need a catalyst and we have one. FDA says the company no longer needs to run further trials to submit BLA. A little late to the party as this is news from yesterday but the move from $11 to $18 over the last two days looks like a multi-day runner and short squeeze candidate. 4 million shares short not huge but not insignificant either. I see mid-$20's next week.