6 Tweets Tell The Aurinia Pharma Story

Aurinia Pharmaceuticals Inc AUPH 4.41% shares are down more than 20 percent Tuesday after nearly tripling in a month’s time. For traders wondering how the stock lost its mojo, the Twitter feed of TheStreet columnist Adam Feuerstein tells the story.

The Aurinia rumors started at around 1 p.m. Monday, when Feuerstein reported hearing that the company intended to raise $100 million.

A few minutes later, he got more specific, tweeting the deal could involve selling 15 million shares in the $6.25-$6.50 range.

— hearing 15M shares offered at $6.25 to $6.75. Demand strong, could raise price.

At 1:44 p.m., Feuerstein continued his tweetstorm by telling his followers Aurinia “is doing a great job raising money tonight.”

Please, please read this thread fro an investor pro so you’ll understand why is doing a great job raising money tonight. https://twitter.com/BiotechHack/status/841388585618198529 

When followers criticized his take on the pricing of the deal, Feuerstein fired back.

Yes. Long-term, fundamental investors buying deal aren’t paying a premium for your momentum-fueled trading. https://twitter.com/tradingcat1/status/841389613151318017 

On Tuesday morning, he reported that the offering had officially been upsized to 22.3 million shares at $6.75/share.

upsized its offering to 22.3M shares. Priced at $6.75. Brings in $150M.

Excellent work, guys.

While the stock may have lost its short-term momentum following the offering, Feuerstein believes…

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