What should we do about it? Well, if it's at all possible buy Co-Diagnostics at 39 cents and wait for the price to revert as the markets open and liquidity returns. My suspicion would be toward the third there, but I of course have no proof of it in this slightest – it's a suspicion. Or, possibly, someone out there has a derivatives position in CODX stock and they think they can close it out at a hugely manipulated price. Or some kids having fun – be a bit of a thing to brag about, moving a global price for $3. So, what do we think this is? It could, of course, be a fat finger mistake. So, the correct conclusion to draw here is that something like the postmarket price of $2 and change is correct, the $0.39 being the anomaly. We'd see a flood of selling as a result of the disaster. But if there were some disaster that gutted the CODX stock price then we'd not see total trade of perhaps $3.50 in value at this new $0.39 cents price. And yet look at this: Co-Diagnostics trades from NASDAQĪnd then this: Co-Diagnostics premarket trades from NASDAQ So we might be primed to think that it can happen again. Co-Diagnostics stock price from IGĪlso Read: Five Best Pharmaceutical Stocks to Watch in 2022Īs we can see, there has been one recent collapse in the Co-Diagnostics stock price. Market makers might be willing to buy at below market but the idea that they'll sell, in any volume, below it requires a certain amount of faith. The problem with this as a plan is that while it might be entirely possible to sell as much CODX stock as we like at this price of $0.39, it's going to be extraordinarily difficult to buy any at that price. As a result of that we'd expect, as the markets open and liquidity returns, the price to move back to somewhere close to last night's close. ![]() But the bet would be, from my point of view, that this is someone playing with the reported price. It's not – for of course it's not – an absolute certainty that there isn't some gremlin in the system that we've not been told about as yet. As to what our reaction should be well, try buying at this price.
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