Russell Vastly Overestimated Innovate Biopharma's Public Float [Seeking Alpha]
LONGFIN CORP A (LFIN)
US:NASDAQ Investor Relations:
nasdaq.com/symbol/lfin/historical
Company Research
Source: Seeking Alpha
Summary On 6/21, INNT closed at $11.06. The next day it was added to the Russell 2000 index. As of 6/29 it has risen in price by 113%. BlackRock’s iShares ETFs now own 603,373 shares. I believe this represents a third of the float, explaining the PPS increase. Russell indices are float-weighed, so this only happens when Russell vastly over-estimates a company's public float. I believe Russell accidentally counted unregistered, non-tradable shares acquired from INNT's reverse merger. If Russell does not fix this error quickly, they should in their quarterly update in September. If I was long I would sell immediately and be very happy with my gains. Thanks to PD Research for this tip! Like most indices, FTSE Russell's are float-weighed. This means their ETFs buy shares in proportion to their estimation of a company's public float. When they vastly over-estimate the float as they did in March with Longfin ( OTCPK:LFIN ), the stock price can raise dramatically (th
Show less
Read more
Impact Snapshot
Event Time:
LFIN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
LFIN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
LFIN alerts
High impacting LONGFIN CORP A news events
Weekly update
A roundup of the hottest topics