KaloBios Pharma (KBIO) Could Drop 50% By Early Next Week: Tim Sykes
Tim Sykes thinks KaloBios Pharma (NASDAQ: KBIO) could drop 50% by early next week, according to the New York Post.
"I'm not saying it's going to crash Tuesday by noon, but I do expect a drop up to 50 percent by early next week" Sykes was quoted as saying.
KBIO has surged from pennies to $45.82 per share recently on an epic short squeeze after a Martin Shkreli group bought 70% of the outstanding shares and was appointed the new CEO, staving off a wind-down.