Take note, Trader!
It has been over a week since I talked about MYMD.
As you know, I have been bullish on MyMD for some time now.
Why should you care about this tiny biotech stock?
For starters, I think that anyone 40 years old+ should be super excited about a company working on a drug attempting to slow down the aging process.
This is exactly what MyMD’s leading drug candidate MYMD-1® is in FDA Phase 2 clinical trials for – sarcopenia, to be more specific.
Sarcopenia refers to the loss of muscle tissue as a natural part of the aging process. MYMD-1® targets what is believed to be one of the main causes of sarcopenia. If successful, this drug offers the ability to potentially increase human lifespan.
Besides sarcopenia, the company is also aiming to advance MYMD-1® into a phase 2 clinical trial for treatment of diabetes, rheumatoid arthritis and multiple sclerosis at some point in the future.
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On top of the drug development, MYMD is working on, traders should focus on the short-term potential here.
I think the stock has seen an overreaction to the recent financing they did (which is an excellent thing for the company’s balance sheet).
We also saw a lot of “hot money” traders flipping out of the stock after the recent 200% rally. Who can blame them for that?
Now, the technicals are firming up on the price chart and I would not be surprised to see dip buyers show up very soon.
If you have been waiting on the sidelines for a good time to start looking at MYMD again…for me, now is the time!
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