I bought 5,000 shares of Cara Therapeutics, Inc.
(NASDAQ:CARA) at $12.32 just minutes ago. The reasoning is mostly
technical, as the stock chart is hitting major technical support
and is extremely oversold. In addition, at such levels and with
promising drug candidates, it becomes a possible buyout target for
a big player like Gildead Sciences (GILD) and others. In addition,
the company is in the pain relief field. Any drug that is not an
opioid can make a company extremely valuable considering the
epidemic going on in the United States right now.
Please note, I may sell my Cara Therapeutics, Inc.
shares at anytime, depending on market/technical signals. My
general upside target is $15.00 near-term.
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Gareth Soloway
InTheMoneyStocks