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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