CMPS Hits New Record High, then Declines Due to Huge Gap Left in Chart

Following the release of Citron Research’s bullish report on Compass Pathways (CMPS), the stock gained as much as 28.44% to reach a new record high of $47.29 per share, but only finished the day up by 8.91% to $40.10 per share. We believe Andrew Left made a mistake by releasing his report before the open of trading, because it left a huge gap in the chart in between Friday’s high of $37.41 per share and Monday’s low of $38.10 per share. After exploding to its high of day and new all-time high of $47.29 per share at 11:05AMEDT, many investors recognized the likelihood of this morning’s gap up needing to be filled and began to take profits. Over the following 4 hours and 50 minutes, CMPS declined all the way back down to a low at 3:55PMEDT of $38.57 per share, before bouncing in the final 5 minutes of trading to a closing price of $40.10 per share.

It should be interesting to see if the gap gets filled on Tuesday or if the late-day bounce continues.

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